Snowflake (NYSE:SNOW) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Snowflake's stock, indicating ongoing concerns about its performance.
• Despite the negative rating from Weiss, several other firms have upgraded their outlook for Snowflake, with target prices ranging from $221.00 to $280.00 and a consensus "Moderate Buy" rating.
• Insider transactions show significant selling activity, with key executives offloading large amounts of stock, potentially signaling caution among company leadership.

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

A number of other research firms also recently weighed in on SNOW. Sanford C. Bernstein lifted their target price on Snowflake from $191.00 to $221.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. Cowen reissued a "buy" rating on shares of Snowflake in a report on Thursday, August 28th. Bank of America raised Snowflake from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $220.00 to $240.00 in a report on Wednesday, August 20th. Evercore ISI raised their price target on Snowflake from $240.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Finally, KeyCorp raised their price target on Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $257.24.

Snowflake Stock Up 1.9%

SNOW opened at $257.84 on Friday. Snowflake has a fifty-two week low of $113.23 and a fifty-two week high of $259.75. 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 $87.36 billion, a P/E ratio of -62.13 and a beta of 1.21. The stock has a fifty day moving average of $227.78 and a 200-day moving average of $205.48.

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

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the transaction, the executive vice president owned 527,336 shares in the company, valued at $123,132,956. The trade was a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,182,434 shares of company stock worth $270,280,661. Insiders own 6.80% of the company's stock.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Snowflake by 2.2% during the second quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company's stock valued at $6,218,515,000 after purchasing an additional 595,553 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake during the second quarter valued at about $3,900,134,000. Jennison Associates LLC boosted its stake in shares of Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company's stock valued at $1,790,309,000 after purchasing an additional 1,363,389 shares in the last quarter. State Street Corp boosted its stake in shares of Snowflake by 1.4% during the second quarter. State Street Corp now owns 6,887,073 shares of the company's stock valued at $1,541,120,000 after purchasing an additional 94,293 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Snowflake by 15.2% during the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company's stock valued at $1,108,045,000 after purchasing an additional 652,485 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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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