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

Key Points

• Snowflake Inc. has received a consensus rating of "Moderate Buy" from 44 research firms, with 36 analysts recommending a buy and only 3 issuing sell ratings.
• The average 12-month price target for Snowflake is $256.18, reflecting an increase from previous estimates by several brokerage firms.
• Insider trading activity included significant sales by senior vice president Vivek Raghunathan and director Michael L. Speiser, indicating a decrease in their ownership of the stock.

Snowflake Inc. (NYSE:SNOW - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the forty-four research firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $256.1842.

A number of brokerages have recently issued reports on SNOW. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Snowflake in a research report on Wednesday. Jefferies Financial Group lifted their price objective on shares of Snowflake from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Oppenheimer lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Robert W. Baird lifted their price objective on shares of Snowflake from $215.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Finally, Evercore ISI lifted their price objective on shares of Snowflake from $240.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th.

Insider Activity

In other news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares of the company's stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the completion of the sale, the director owned 36,116 shares of the company's stock, valued at $7,537,048.04. This trade represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,182,434 shares of company stock worth $270,280,661 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Institutional investors have recently bought and sold shares of the stock. Capital Advantage Inc. lifted its stake in Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock valued at $987,000 after acquiring an additional 48 shares during the period. Wedbush Securities Inc. lifted its stake in Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company's stock valued at $832,000 after acquiring an additional 48 shares during the period. Avion Wealth lifted its stake in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company's stock valued at $25,000 after acquiring an additional 49 shares during the period. Insigneo Advisory Services LLC lifted its stake in Snowflake by 1.3% during the 2nd quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company's stock valued at $896,000 after acquiring an additional 52 shares during the period. Finally, Advyzon Investment Management LLC lifted its stake in shares of Snowflake by 3.8% in the 2nd quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company's stock valued at $340,000 after purchasing an additional 55 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Down 3.3%

NYSE SNOW opened at $242.52 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $82.17 billion, a price-to-earnings ratio of -58.44 and a beta of 1.21. The company's 50-day simple moving average is $218.64 and its two-hundred day simple moving average is $198.54. Snowflake has a one year low of $113.23 and a one year high of $255.39.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company's revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Equities analysts forecast that Snowflake will post -2.36 EPS for the current fiscal year.

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.

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