Snowflake (NYSE:SNOW) Given Buy Rating at DA Davidson

DA Davidson restated their buy rating on shares of Snowflake (NYSE:SNOW - Free Report) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $250.00 price objective on the stock.

SNOW has been the subject of a number of other reports. Evercore ISI reissued an "outperform" rating and set a $232.00 price objective (up from $200.00) on shares of Snowflake in a report on Thursday, May 22nd. Jefferies Financial Group increased their price target on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Daiwa America raised Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. UBS Group raised Snowflake from a "neutral" rating to a "buy" rating and increased their price target for the company from $210.00 to $265.00 in a research report on Wednesday. Finally, Mizuho increased their price target on Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $221.28.

Snowflake Stock Up 0.2%

SNOW stock traded up $0.39 during trading on Wednesday, reaching $209.99. 5,229,333 shares of the stock were exchanged, compared to its average volume of 6,366,464. The firm's 50 day moving average is $166.87 and its 200 day moving average is $168.02. Snowflake has a twelve month low of $107.13 and a twelve month high of $214.83. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $70.11 billion, a P/E ratio of -61.94 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. As a group, research analysts forecast that Snowflake will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of Snowflake stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares of the company's stock, valued at approximately $91,673,243.64. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 5,027 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the sale, the chief accounting officer now directly owns 40,608 shares in the company, valued at $8,083,428.48. This trade represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 849,779 shares of company stock valued at $159,318,643 over the last ninety days. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new position in Snowflake during the first quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at approximately $29,000. CVA Family Office LLC grew its stake in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the period. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.