Snowflake (NYSE:SNOW) Stock Price Up 1.2% - What's Next?

Snowflake Inc. (NYSE:SNOW - Get Free Report) rose 1.2% on Monday . The company traded as high as $213.30 and last traded at $213.47. Approximately 736,029 shares traded hands during trading, a decline of 88% from the average daily volume of 5,987,178 shares. The stock had previously closed at $210.84.

Wall Street Analyst Weigh In

SNOW has been the topic of several research reports. Daiwa Capital Markets started coverage on Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price on the stock. CICC Research assumed coverage on Snowflake in a research report on Friday, June 20th. They set an "outperform" rating and a $225.00 price target on the stock. BTIG Research restated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Barclays restated an "overweight" rating and issued a $219.00 target price (up from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $215.00 target price (up previously from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

Snowflake Stock Up 1.6%

The company's fifty day moving average price is $203.53 and its 200-day moving average price is $177.21. The stock has a market capitalization of $71.53 billion, a PE ratio of -50.89 and a beta of 1.22. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business's revenue was up 25.8% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. Analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total value of $2,188,900.00. Following the completion of the sale, the executive vice president owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. The trade was a 1.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $221.47, for a total transaction of $89,252.41. Following the completion of the sale, the director directly owned 26,539 shares of the company's stock, valued at approximately $5,877,592.33. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,718,258 shares of company stock worth $589,762,906. Company insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after buying an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snowflake during the 2nd quarter valued at $3,900,134,000. Norges Bank purchased a new stake in Snowflake in the 4th quarter worth $988,950,000. FMR LLC lifted its stake in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter worth $750,572,000. Institutional investors own 65.10% of the company's stock.

About Snowflake

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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