Snowflake's (SNOW) "Outperform" Rating Reiterated at Oppenheimer

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Oppenheimer in a research note issued to investors on Thursday, Marketbeat reports. They presently have a $225.00 price target on the stock, up from their prior price target of $210.00. Oppenheimer's price target suggests a potential upside of 8.76% from the company's previous close.

Several other research analysts also recently commented on the company. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Morgan Stanley raised their price target on Snowflake from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Royal Bank of Canada lifted their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. UBS Group increased 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, May 22nd. Finally, Daiwa Capital Markets initiated coverage on shares of Snowflake in a research note on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $217.33.

Snowflake Stock Performance

Shares of SNOW traded up $6.82 during midday trading on Thursday, reaching $206.87. The stock had a trading volume of 5,973,372 shares, compared to its average volume of 5,589,991. The firm has a market cap of $68.29 billion, a PE ratio of -61.02 and a beta of 1.11. The firm has a 50 day simple moving average of $160.09 and a 200-day simple moving average of $164.69. Snowflake has a one year low of $107.13 and a one year high of $208.31. 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 posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake's quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Snowflake will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the transaction, the director now owns 25,972 shares in the company, valued at $4,363,555.72. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the completion of the transaction, the executive vice president now directly owns 580,632 shares of the company's stock, valued at $97,546,176. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,963 shares of company stock valued at $58,204,058. Corporate insiders own 7.80% of the company's stock.

Institutional Trading of Snowflake

A number of hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the first quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in Snowflake during the 4th quarter worth $29,000. CVA Family Office LLC increased its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $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 valued at about $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the fourth quarter valued at about $31,000. Institutional investors and hedge funds 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.