Snowflake (NYSE:SNOW - Get Free Report) had its price objective raised by analysts at Mizuho from $215.00 to $235.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's target price points to a potential upside of 11.91% from the company's current price.
A number of other brokerages have also recently weighed in on SNOW. Citigroup reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Royal Bank of Canada set a $236.00 price objective on Snowflake and gave the company an "outperform" rating in a research note on Thursday, May 22nd. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Bank of America increased their price objective on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average price target of $221.28.
Read Our Latest Report on SNOW
Snowflake Stock Performance
SNOW stock traded up $0.39 during trading on Wednesday, hitting $209.99. The company had a trading volume of 5,229,333 shares, compared to its average volume of 6,366,464. The firm has a 50-day moving average price of $166.87 and a 200-day moving average price of $168.02. 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 firm has a market cap of $70.11 billion, a PE ratio of -61.94 and a beta of 1.21. Snowflake has a 1-year low of $107.13 and a 1-year high of $214.83.
Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business's revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. On average, analysts expect that Snowflake will post -2.36 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Michael Scarpelli sold 400,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the sale, the executive vice president now directly owns 622,611 shares of the company's stock, valued at $91,673,243.64. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 849,779 shares of company stock valued at $159,318,643 over the last quarter. Insiders own 6.80% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new position in Snowflake during the first quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $29,000. CVA Family Office LLC raised its stake in shares of Snowflake by 80.0% in 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. bought a new position in Snowflake in the fourth quarter worth $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in Snowflake during the fourth quarter worth $31,000. Institutional investors own 65.10% of the company's stock.
About Snowflake
(
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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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