StockNews.com Upgrades Snowflake (NYSE:SNOW) to Hold

Snowflake (NYSE:SNOW - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently weighed in on the company. Raymond James raised their price objective on Snowflake from $190.00 to $223.00 and gave the company an "outperform" rating in a research note on Friday, February 2nd. Morgan Stanley restated an "equal weight" rating and set a $175.00 price objective (down from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Guggenheim upgraded Snowflake from a "sell" rating to a "neutral" rating in a research note on Friday, March 15th. JMP Securities raised their price objective on Snowflake from $212.00 to $235.00 and gave the company a "market outperform" rating in a research note on Thursday, February 29th. Finally, Wedbush raised their price objective on Snowflake from $144.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.00.

Snowflake Trading Down 1.4 %

NYSE:SNOW traded down $2.28 on Tuesday, reaching $155.16. 4,011,604 shares of the stock traded hands, compared to its average volume of 6,482,611. The firm has a market capitalization of $51.85 billion, a price-to-earnings ratio of -60.85 and a beta of 0.91. The company's 50 day moving average is $167.16 and its 200-day moving average is $179.13. Snowflake has a 1-year low of $138.40 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, equities research analysts forecast that Snowflake will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 1,500 shares of the business's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 689 shares of the business's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares of the company's stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders sold 168,209 shares of company stock worth $34,291,592 in the last quarter. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently made changes to their positions in SNOW. Accent Capital Management LLC purchased a new stake in Snowflake in the fourth quarter worth $25,000. Provence Wealth Management Group purchased a new stake in Snowflake in the third quarter worth $30,000. Whittier Trust Co. of Nevada Inc. grew its stake in Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company's stock worth $31,000 after purchasing an additional 72 shares during the period. Global Wealth Management Investment Advisory Inc. grew its stake in Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Riverview Trust Co purchased a new stake in Snowflake in the first quarter worth $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

About Snowflake

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.