Snowflake (NYSE:SNOW) Given Outperform Rating at Evercore ISI

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Evercore ISI in a research report issued on Thursday, Marketbeat.com reports. They currently have a $232.00 price target on the stock, up from their prior price target of $200.00. Evercore ISI's price target suggests a potential upside of 14.09% from the company's previous close.

A number of other research firms have also recently commented on SNOW. 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 report on Thursday. HSBC cut shares of Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday. Macquarie assumed coverage on shares of Snowflake in a research report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 target price for the company. UBS Group raised their price target on shares of Snowflake from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Wedbush set a $210.00 price target on shares of Snowflake in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus target price of $216.46.

Snowflake Trading Up 13.5%

NYSE:SNOW opened at $203.35 on Thursday. Snowflake has a 52 week low of $107.13 and a 52 week high of $204.00. The firm has a 50 day moving average of $158.29 and a 200 day moving average of $162.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $67.13 billion, a price-to-earnings ratio of -59.99 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results 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 analysts' expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction 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 sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in Snowflake during the first quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in Snowflake during the fourth quarter valued at $29,000. CVA Family Office LLC lifted its holdings in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new position in Snowflake during the fourth quarter valued at $31,000. Finally, Spurstone Advisory Services LLC purchased a new position in Snowflake during the fourth quarter valued at $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.