Snowflake (NYSE:SNOW) Shares Up 1.7% - Still a Buy?

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s stock price shot up 1.7% during trading on Friday . The company traded as high as $222.61 and last traded at $221.13. 2,761,777 shares traded hands during trading, a decline of 54% from the average session volume of 6,054,199 shares. The stock had previously closed at $217.34.

Analysts Set New Price Targets

A number of research firms recently commented on SNOW. Daiwa Capital Markets began coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. KeyCorp reiterated an "overweight" rating on shares of Snowflake in a report on Wednesday, June 25th. Wells Fargo & Company reiterated an "overweight" rating and set a $250.00 price target (up from $225.00) on shares of Snowflake in a report on Friday, June 13th. Hsbc Global Res lowered shares of Snowflake from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $230.00 price objective on shares of Snowflake in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $225.36.

Snowflake Stock Up 1.7%

The company's 50-day moving average is $196.60 and its 200 day moving average is $174.76. The company has a market capitalization of $73.83 billion, a PE ratio of -52.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

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 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 294,125 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $217.29, for a total transaction of $63,910,421.25. Following the sale, the director owned 165,507 shares of the company's stock, valued at $35,963,016.03. This trade represents a 63.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 1,146 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total transaction of $249,530.04. Following the sale, the director directly owned 4,474 shares in the company, valued at approximately $974,168.76. The trade was a 20.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,876,557 shares of company stock worth $403,565,119 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

A number of institutional investors have recently made changes to their positions in SNOW. Brighton Jones LLC boosted its holdings in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after acquiring an additional 29,320 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Snowflake by 21.1% during the 4th quarter. US Bancorp DE now owns 26,169 shares of the company's stock valued at $4,041,000 after acquiring an additional 4,565 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Snowflake by 84.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 887 shares of the company's stock valued at $137,000 after acquiring an additional 405 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Snowflake by 30.0% during the 4th quarter. Jones Financial Companies Lllp now owns 11,815 shares of the company's stock valued at $1,824,000 after acquiring an additional 2,730 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Snowflake by 16.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,131 shares of the company's stock valued at $792,000 after acquiring an additional 723 shares during the last quarter. Hedge funds and other 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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