Snowflake Inc. (NYSE:SNOW) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Snowflake Inc. has received a consensus rating of "Moderate Buy" from 43 ratings firms, with an average 12-month target price of $226.73, indicating strong analyst support.
• Recent analyst upgrades include UBS Group raising their price objective from $210 to $265, while Mizuho increased theirs from $215 to $235.
• Insiders have sold a significant amount of shares recently, with total sales amounting to $588.2 million over the past ninety days, although institutional investors maintain a majority ownership of 65.10% in the company.

Shares of Snowflake Inc. (NYSE:SNOW - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the forty-three ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $226.73.

SNOW has been the subject of several recent analyst reports. UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $210.00 to $265.00 in a research note on Wednesday, June 4th. Mizuho upped their target price on shares of Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Stifel Nicolaus lifted their price target on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Macquarie boosted their price target on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $221.47, for a total value of $89,252.41. Following the completion of the sale, the director directly owned 26,539 shares of the company's stock, valued at $5,877,592.33. This represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 1,146 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total transaction of $249,530.04. Following the completion of the sale, the director owned 4,474 shares in the company, valued at $974,168.76. This represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,708,258 shares of company stock worth $588,162,906. Company insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Snowflake during the second quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake in the 1st quarter valued at approximately $26,000. CVA Family Office LLC increased its stake in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake during the 4th quarter worth approximately $31,000. Finally, Spurstone Advisory Services LLC bought a new position in Snowflake in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $219.55 on Monday. The firm has a market capitalization of $73.30 billion, a price-to-earnings ratio of -52.15 and a beta of 1.22. Snowflake has a one year low of $107.13 and a one year high of $226.60. The business has a fifty day simple moving average of $211.09 and a 200 day simple moving average of $181.09. 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 (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business's revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. Sell-side analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.