Snowflake (NYSE:SNOW) Earns Overweight Rating from Barclays

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Barclays in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $219.00 price objective on the stock, up from their previous price objective of $203.00. Barclays's target price indicates a potential upside of 7.70% from the stock's previous close.

SNOW has been the subject of a number of other research reports. JMP Securities reissued a "market outperform" rating and issued a $201.00 price objective on shares of Snowflake in a research report on Tuesday. Loop Capital lifted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Rosenblatt Securities reissued a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research report on Monday. Piper Sandler reissued an "overweight" rating and issued a $215.00 price objective (up previously from $175.00) on shares of Snowflake in a research report on Wednesday. Finally, UBS Group lifted their price objective on shares of Snowflake from $200.00 to $210.00 and gave the company a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.46.

Snowflake Stock Up 13.5%

Snowflake stock opened at $203.35 on Thursday. The company has a market cap of $67.13 billion, a P/E ratio of -59.99 and a beta of 1.11. Snowflake has a 1-year low of $107.13 and a 1-year high of $204.00. The company has a fifty day simple moving average of $158.29 and a 200 day simple moving average of $162.99. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $0.14 EPS. The company's quarterly revenue was up 25.8% on a year-over-year basis. Research analysts anticipate that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake in the 1st quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the 4th quarter valued at approximately $29,000. CVA Family Office LLC grew its holdings in shares of Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the 4th quarter valued at approximately $31,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Snowflake during the 4th quarter valued at approximately $31,000. 65.10% of the stock is currently 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.