Snowflake Inc. (NYSE:SNOW) Receives Average Rating of "Moderate Buy" from Analysts

Snowflake Inc. (NYSE:SNOW - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the forty-two research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $225.36.

SNOW has been the subject of a number of recent research reports. Cantor Fitzgerald increased their price target on shares of Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. CICC Research assumed coverage on shares of Snowflake in a research note on Friday, June 20th. They set an "outperform" rating and a $225.00 target price for the company. BTIG Research restated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Daiwa America raised Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $205.00 price objective on shares of Snowflake in a research report on Monday, May 19th.

Insider Activity

In other news, Director Frank Slootman sold 294,125 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $217.29, for a total value of $63,910,421.25. Following the completion of the transaction, the director directly owned 165,507 shares of the company's stock, valued at $35,963,016.03. The trade was a 63.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeremy Burton sold 19,111 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $220.80, for a total value of $4,219,708.80. Following the sale, the director directly owned 3,987 shares in the company, valued at approximately $880,329.60. The trade was a 82.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,876,557 shares of company stock worth $403,565,119 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake in the first quarter valued at $26,000. CVA Family Office LLC grew its holdings in 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. acquired a new position in shares of Snowflake during the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake during the 4th quarter worth about $31,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter worth about $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of Snowflake stock traded up $3.79 on Thursday, hitting $221.13. The stock had a trading volume of 2,761,777 shares, compared to its average volume of 6,054,199. The stock has a market cap of $73.83 billion, a price-to-earnings ratio of -52.52 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake has a 52-week low of $107.13 and a 52-week high of $225.68. The company's 50 day moving average price is $197.86 and its 200 day moving average price is $175.10.

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

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.