Snowflake Inc. (NYSE:SNOW) Receives Average Rating of “Moderate Buy” from Brokerages

Snowflake Inc. (NYSE:SNOW) has received a consensus rating of “Moderate Buy” from the forty-three research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $275.3243.

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Stifel Nicolaus raised their target price on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Scotiabank reaffirmed an “outperform” rating on shares of Snowflake in a research report on Thursday, December 4th. Monness Crespi & Hardt increased their price objective on Snowflake from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Finally, Raymond James Financial set a $250.00 target price on Snowflake in a research note on Monday, December 15th.

Snowflake Price Performance

NYSE SNOW opened at $222.80 on Thursday. The company has a market cap of $76.24 billion, a PE ratio of -55.15 and a beta of 1.09. The firm’s 50 day moving average price is $245.45 and its 200-day moving average price is $228.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. Snowflake has a 52-week low of $120.10 and a 52-week high of $280.67.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. Sell-side analysts forecast that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Activity

In related news, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00. Following the completion of the sale, the director directly owned 50,329 shares in the company, valued at $11,164,482.07. This trade represents a 79.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the sale, the director directly owned 33,596 shares in the company, valued at approximately $8,644,250.80. This represents a 59.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 411,880 shares of company stock worth $95,529,832 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Trust Co. of Toledo NA OH purchased a new position in Snowflake during the 2nd quarter worth approximately $25,000. Avion Wealth lifted its position in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in Snowflake in the third quarter valued at $25,000. Tripletail Wealth Management LLC purchased a new stake in Snowflake in the third quarter valued at $28,000. Finally, Rossby Financial LCC grew its position in Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.