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

Shares of Snowflake Inc. (NYSE:SNOW - Get Free Report) have earned an average recommendation of "Moderate Buy" from the forty-two analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $221.97.

Several research analysts have recently commented on SNOW shares. Truist Financial raised their price objective on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Daiwa Capital Markets assumed coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective for the company. Daiwa America raised Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Mizuho lifted their price objective on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 685 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the sale, the executive vice president now owns 622,611 shares of the company's stock, valued at approximately $91,673,243.64. This represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 849,779 shares of company stock valued at $159,318,643 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several large investors have recently added to or reduced their stakes in SNOW. Brighton Jones LLC grew its stake in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after acquiring an additional 29,320 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Snowflake in the fourth quarter worth about $402,000. Choreo LLC lifted its holdings in Snowflake by 37.8% in the fourth quarter. Choreo LLC now owns 9,100 shares of the company's stock worth $1,408,000 after acquiring an additional 2,497 shares during the last quarter. Consolidated Portfolio Review Corp bought a new position in Snowflake in the fourth quarter worth about $203,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 0.3%

Snowflake stock opened at $210.78 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. The business's fifty day moving average is $169.37 and its 200 day moving average is $169.43. Snowflake has a one year low of $107.13 and a one year high of $214.83.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results 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 business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. On average, sell-side analysts predict 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.

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