Snowflake Inc. (NYSE:SNOW) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Snowflake has a “Moderate Buy” consensus: Of 40 brokerages, 34 rate the stock a buy, five recommend holding and one recommends selling. The average 12-month price target is approximately $331.46.
• Analysts see AI as a key growth catalyst: Recent target increases include Cantor Fitzgerald’s move to $405, while investors are watching whether Snowflake’s Cortex, CoCo and CoWork offerings drive product revenue, retention and platform usage.
• Shares have rallied sharply but insider selling remains notable: SNOW opened at $331.68, near its 52-week high of $341.95, while insiders sold 1.16 million shares worth about $321.7 million over the past three months under pre-arranged trading plans.

Snowflake Inc. (NYSE:SNOW - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the forty brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirty-four have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $331.4595.

A number of research firms have recently issued reports on SNOW. Weiss Ratings downgraded shares of Snowflake from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. Wedbush boosted their target price on shares of Snowflake from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Oppenheimer lifted their target price on Snowflake from $295.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Royal Bank Of Canada raised their target price on Snowflake from $313.00 to $372.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Finally, Bank of America upped their price target on Snowflake from $330.00 to $395.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Higher analyst price target: Cantor Fitzgerald raised its Snowflake price target from $282 to $405 and maintained an “overweight” rating, citing expanding market multiples and potential for further upside. Snowflake Price Target Raised at Cantor Fitzgerald
• Positive Sentiment: AI monetization is the central catalyst: Investors are looking for stronger product revenue, net revenue retention and guidance as Snowflake’s Cortex, CoCo and CoWork offerings could accelerate data migrations, workloads and platform consumption. Snowflake Earnings Preview
• Positive Sentiment: Customer and ecosystem expansion: CrowdStrike announced that its Falcon platform will be available through Google Cloud and the Snowflake Marketplace, strengthening Snowflake’s enterprise data and security ecosystem. CrowdStrike Brings Falcon Platform to Snowflake
• Positive Sentiment: Analysts and market commentators identify Snowflake as a leading AI-driven software name, with customer growth and previously announced pricing and agent-platform initiatives supporting the recent rally. Snowflake Stock Ran on a Plan

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $324.06, for a total transaction of $130,596.18. Following the completion of the transaction, the director owned 22,573 shares in the company, valued at approximately $7,315,006.38. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 48,990 shares of Snowflake stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $320.78, for a total transaction of $15,715,012.20. Following the completion of the sale, the director directly owned 28,535 shares of the company's stock, valued at $9,153,457.30. The trade was a 63.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,156,901 shares of company stock worth $321,725,352. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Kemnay Advisory Services Inc. bought a new stake in Snowflake in the 4th quarter valued at about $28,000. Greenline Wealth Management LLC bought a new stake in Snowflake in the fourth quarter worth about $29,000. MV Capital Management Inc. acquired a new position in Snowflake in the fourth quarter worth approximately $32,000. Copos Capital S.a r.l. acquired a new stake in Snowflake during the 4th quarter worth about $35,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Snowflake in the third quarter valued at $39,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Price Performance

SNOW stock opened at $331.68 on Tuesday. The firm has a market capitalization of $114.96 billion, a P/E ratio of -94.23 and a beta of 1.33. Snowflake has a 52 week low of $118.30 and a 52 week high of $341.95. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a fifty day simple moving average of $289.86 and a two-hundred day simple moving average of $216.33.

Snowflake Company Profile

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.

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