Snowflake (NYSE:SNOW) Now Covered by Analysts at CICC Research

Research analysts at CICC Research began coverage on shares of Snowflake (NYSE:SNOW - Get Free Report) in a note issued to investors on Friday,Benzinga reports. The firm set an "outperform" rating and a $225.00 price target on the stock. CICC Research's price objective points to a potential upside of 6.19% from the company's current price.

Other research analysts have also issued reports about the stock. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Bank of America lifted their target price on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. KeyCorp reduced their price target on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and upped their target price for the stock from $210.00 to $265.00 in a research report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $223.54.

Snowflake Price Performance

Shares of NYSE SNOW opened at $211.89 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $214.83. The business has a 50 day moving average price of $181.78 and a two-hundred day moving average price of $171.80. The firm has a market cap of $70.74 billion, a PE ratio of -50.33 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.14 EPS. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. Sell-side analysts expect that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $211.35, for a total transaction of $85,174.05. Following the transaction, the director now directly owns 25,569 shares in the company, valued at approximately $5,404,008.15. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 7,294 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $208.00, for a total value of $1,517,152.00. Following the sale, the director now directly owns 170,718 shares of the company's stock, valued at approximately $35,509,344. The trade was a 4.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 894,638 shares of company stock worth $169,965,038. Company insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently modified their holdings of SNOW. ORG Wealth Partners LLC bought a new stake in Snowflake during the first quarter worth $898,000. Kirtland Hills Capital Management LLC lifted its stake in Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after purchasing an additional 4,559 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Snowflake by 455.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after purchasing an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in Snowflake during the fourth quarter worth approximately $3,088,000. Finally, GraniteShares Advisors LLC bought a new stake in Snowflake in the fourth quarter valued at approximately $781,000. Institutional investors 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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