Snowflake Inc. (NYSE:SNOW) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Snowflake “Moderate Buy”: Of 42 analysts, 36 recommend buying, five rate it a hold, and one a sell. The average 12-month price target is $413.87, with recent targets ranging from $395 to $500.
• Quarterly results beat expectations: Snowflake reported adjusted EPS of $0.62 versus a $0.45 consensus estimate, while revenue of $1.55 billion topped forecasts and rose 35.1% year over year.
• Shares and insider activity: Snowflake shares fell 2.7% to $290.61 in Friday midday trading. Insiders sold about 1.19 million shares worth $387.7 million over the past 90 days.

Snowflake Inc. (NYSE:SNOW - Get Free Report) has been given a consensus rating of "Moderate Buy" by the forty-two analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty-six have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $413.87.

A number of equities analysts have issued reports on SNOW shares. Piper Sandler reaffirmed an "overweight" rating and issued a $450.00 target price (up from $320.00) on shares of Snowflake in a research report on Thursday, September 3rd. UBS Group increased their target price on Snowflake from $425.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. The Goldman Sachs Group raised their price target on shares of Snowflake from $300.00 to $436.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Robert W. Baird set a $450.00 price target on shares of Snowflake in a research note on Thursday, September 3rd. Finally, Bank of America upped their price target on shares of Snowflake from $330.00 to $395.00 and gave the company a "buy" rating in a report on Wednesday, August 19th.

Snowflake Stock Down 2.7%

Shares of NYSE SNOW traded down $8.09 during midday trading on Friday, reaching $290.61. 2,931,762 shares of the company's stock were exchanged, compared to its average volume of 4,594,023. Snowflake has a 52-week low of $118.30 and a 52-week high of $384.56. The stock has a market capitalization of $102.53 billion, a PE ratio of -91.39 and a beta of 1.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. The business's fifty day moving average price is $324.69 and its two-hundred day moving average price is $243.79.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company's revenue was up 35.1% compared to the same quarter last year. Analysts forecast that Snowflake will post -1.42 EPS for the current year.

Insider Activity at Snowflake

In other news, Director Michael Speiser sold 50,338 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $353.87, for a total value of $17,813,108.06. Following the completion of the sale, the director owned 25,196 shares of the company's stock, valued at approximately $8,916,108.52. The trade was a 66.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 300,000 shares of the business's stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the completion of the sale, the director directly owned 19,024 shares of the company's stock, valued at $6,019,764.32. The trade was a 94.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,186,443 shares of company stock valued at $387,734,752 in the last 90 days. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in Snowflake by 22.2% in the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company's stock valued at $452,014,000 after acquiring an additional 544,960 shares during the period. Swiss National Bank increased its stake in Snowflake by 7.1% during the 1st quarter. Swiss National Bank now owns 944,600 shares of the company's stock valued at $142,465,000 after buying an additional 62,600 shares during the period. First Trust Advisors LP increased its stake in shares of Snowflake by 14.6% during the third quarter. First Trust Advisors LP now owns 936,252 shares of the company's stock valued at $317,914,000 after acquiring an additional 119,629 shares during the period. Aberdeen Group plc increased its position in shares of Snowflake by 307.8% during the 3rd quarter. Aberdeen Group plc now owns 801,738 shares of the company's stock valued at $272,238,000 after purchasing an additional 605,116 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Snowflake by 134.5% in the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company's stock worth $268,351,000 after acquiring an additional 453,342 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake's platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.

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