Snowflake's (SNOW) Outperform Rating Reiterated at Oppenheimer

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Oppenheimer in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $225.00 target price on the stock, up from their prior target price of $210.00. Oppenheimer's target price suggests a potential upside of 12.51% from the stock's previous close.

A number of other equities research analysts also recently issued reports on SNOW. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday. DA Davidson boosted their price objective on Snowflake from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday. Loop Capital raised their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, Mizuho set a $215.00 price objective on shares of Snowflake and gave the stock an "outperform" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $217.33.

Snowflake Stock Performance

Shares of Snowflake stock traded down $3.19 during trading hours on Thursday, reaching $199.99. 11,901,781 shares of the stock traded hands, compared to its average volume of 6,474,139. The company has a 50 day moving average price of $159.20 and a 200 day moving average price of $163.86. The firm has a market capitalization of $66.02 billion, a price-to-earnings ratio of -58.99 and a beta of 1.11. Snowflake has a one year low of $107.13 and a one year high of $205.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

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

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the 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 completion of the sale, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock worth $58,204,058 over the last 90 days. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in Snowflake in the 1st quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new position in Snowflake in the 4th quarter worth about $29,000. CVA Family Office LLC increased its stake 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 buying an additional 88 shares during the period. West Paces Advisors Inc. purchased a new position in Snowflake in the 4th quarter worth about $31,000. Finally, Spurstone Advisory Services LLC purchased a new position in Snowflake in the 4th quarter worth about $31,000. 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.