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

Key Points

• Snowflake Inc. has received a consensus rating of "Moderate Buy" from 43 brokerage firms, with an average target price of $226.86.
• Recent brokerages analyses include JPMorgan raising the target price to $225 and HSBC lowering it to a "sell" rating.
• Snowflake reported a 25.8% year-over-year revenue increase, with quarterly earnings of $0.24 per share exceeding estimates.

Shares of Snowflake Inc. (NYSE:SNOW - Get Free Report) have earned a consensus rating of "Moderate Buy" from the forty-three ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $226.8649.

A number of brokerages have recently weighed in on SNOW. JPMorgan Chase & Co. raised their target price on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. HSBC cut shares of Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Hsbc Global Res lowered Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. UBS Group dropped their target price on Snowflake from $265.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Finally, Barclays reiterated an "overweight" rating and issued a $219.00 price target (up previously from $203.00) on shares of Snowflake in a report on Thursday, May 22nd.

Snowflake Stock Down 0.0%

SNOW opened at $194.7610 on Friday. The company has a market capitalization of $65.02 billion, a P/E ratio of -46.26 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The firm's fifty day moving average price is $211.34 and its two-hundred day moving average price is $184.88. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $229.27.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%.The business's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 earnings per share. On average, analysts anticipate that Snowflake will post -2.36 EPS for the current year.

Insider Activity

In other news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $84,102.07. Following the sale, the director directly owned 26,136 shares in the company, valued at $5,454,321.84. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $216.00, for a total value of $2,160,000.00. Following the completion of the sale, the executive vice president owned 537,336 shares in the company, valued at $116,064,576. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,916,826 shares of company stock worth $637,835,052 over the last three months. Company insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Trust Co. of Toledo NA OH acquired a new position in Snowflake in the second quarter valued at about $25,000. Avion Wealth boosted its stake in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company's stock valued at $25,000 after buying an additional 49 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Snowflake in the first quarter valued at about $26,000. CVA Family Office LLC raised its stake in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares in the last quarter. Finally, Rossby Financial LCC raised its stake in Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company's stock worth $29,000 after acquiring an additional 127 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.

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