Snowflake (NYSE:SNOW) Cut to "Strong Sell" at Hsbc Global Res

Snowflake (NYSE:SNOW - Get Free Report) was downgraded by stock analysts at Hsbc Global Res from a "hold" rating to a "strong sell" rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. DA Davidson lifted their price target on shares of Snowflake from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday. Royal Bank of Canada set a $236.00 target price on Snowflake and gave the company an "outperform" rating in a research report on Thursday. UBS Group raised their price target on Snowflake from $200.00 to $210.00 and gave the stock a "neutral" rating in a research report on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and set a $205.00 price objective on shares of Snowflake in a research report on Monday. Finally, Macquarie increased their price objective on shares of Snowflake from $160.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $216.46.

Snowflake Stock Up 13.5%

SNOW stock opened at $203.35 on Thursday. 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 $67.13 billion, a price-to-earnings ratio of -59.99 and a beta of 1.11. The business's fifty day moving average price is $158.29 and its two-hundred day moving average price is $162.99. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $204.00.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. On average, equities analysts anticipate that Snowflake will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the transaction, the director now owns 25,972 shares in the company, valued at approximately $4,363,555.72. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock valued at $58,204,058 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its stake in shares of Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after acquiring an additional 73 shares during the period. IFM Investors Pty Ltd raised its holdings in Snowflake by 0.5% during the 1st quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company's stock worth $7,896,000 after purchasing an additional 274 shares during the last quarter. Intech Investment Management LLC raised its holdings in Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock worth $1,637,000 after purchasing an additional 2,167 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Snowflake by 0.5% in the 1st quarter. Focus Partners Wealth now owns 99,545 shares of the company's stock worth $14,550,000 after purchasing an additional 460 shares during the period. Finally, Integrity Alliance LLC. bought a new stake in shares of Snowflake in the 1st quarter valued at $646,000. Institutional investors and hedge funds own 65.10% of the company's stock.

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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