Snowflake (NYSE:SNOW)'s stock had its "hold" rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Wednesday, AnalystRatings.com reports.
A number of other brokerages also recently issued reports on SNOW. BTIG Research set a $264.62 price target on shares of Snowflake and gave the stock a "hold" rating in a research report on Wednesday, July 14th. FBN Securities boosted their price target on shares of Snowflake from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Thursday, August 26th. Stifel Nicolaus lifted their price objective on shares of Snowflake from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Thursday, August 26th. Canaccord Genuity lifted their price objective on shares of Snowflake from $240.00 to $275.00 and gave the company a "hold" rating in a research note on Thursday, August 26th. Finally, Monness Crespi & Hardt assumed coverage on shares of Snowflake in a research note on Monday, July 12th. They issued a "neutral" rating and a $264.63 price objective for the company. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $296.36.
NYSE:SNOW opened at $319.25 on Wednesday. Snowflake has a 52 week low of $184.71 and a 52 week high of $429.00. The firm has a market cap of $96.06 billion and a price-to-earnings ratio of -104.67. The firm's 50-day simple moving average is $280.92 and its 200 day simple moving average is $249.71.
Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Tuesday, August 24th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.11. Snowflake had a negative net margin of 89.38% and a negative return on equity of 15.26%. The company had revenue of $272.20 million for the quarter, compared to the consensus estimate of $256.74 million. Snowflake's revenue was up 104.5% on a year-over-year basis. As a group, analysts anticipate that Snowflake will post -2.11 EPS for the current fiscal year.
In other Snowflake news, Director Mark Garrett sold 1,005 shares of the stock in a transaction that occurred on Friday, June 18th. The stock was sold at an average price of $250.00, for a total transaction of $251,250.00. Following the transaction, the director now owns 1,005 shares in the company, valued at $251,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 100 shares of the firm's stock in a transaction that occurred on Tuesday, July 13th. The shares were sold at an average price of $275.00, for a total value of $27,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,119,089 shares of company stock valued at $308,609,521 over the last quarter. Company insiders own 11.30% of the company's stock.
Large investors have recently added to or reduced their stakes in the stock. Covington Capital Management lifted its holdings in shares of Snowflake by 9.6% in the 2nd quarter. Covington Capital Management now owns 400 shares of the company's stock valued at $97,000 after purchasing an additional 35 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Snowflake by 2.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 1,876 shares of the company's stock worth $446,000 after acquiring an additional 42 shares in the last quarter. Douglass Winthrop Advisors LLC boosted its stake in shares of Snowflake by 3.8% during the 2nd quarter. Douglass Winthrop Advisors LLC now owns 1,220 shares of the company's stock worth $295,000 after acquiring an additional 45 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Snowflake by 12.5% during the 2nd quarter. Arkadios Wealth Advisors now owns 450 shares of the company's stock worth $108,000 after acquiring an additional 50 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Snowflake by 3.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,492 shares of the company's stock valued at $342,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 62.41% of the company's stock.
Snowflake Company Profile
Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.
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