Shares of Snowflake Inc. (NYSE:SNOW - Get Free Report) rose 1.8% during trading on Friday after JMP Securities raised their price target on the stock from $245.00 to $260.00. JMP Securities currently has a market outperform rating on the stock. Snowflake traded as high as $217.00 and last traded at $215.43. Approximately 1,259,339 shares traded hands during trading, a decline of 76% from the average daily volume of 5,195,917 shares. The stock had previously closed at $211.58.
A number of other equities analysts also recently commented on SNOW. UBS Group raised shares of Snowflake from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $210.00 to $265.00 in a research note on Wednesday, June 4th. Rosenblatt Securities reiterated a "buy" rating and set a $205.00 price target on shares of Snowflake in a research report on Monday, May 19th. Oppenheimer reiterated an "outperform" rating on shares of Snowflake in a research report on Tuesday, June 24th. Piper Sandler reiterated an "overweight" rating and set a $215.00 price target (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Finally, Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $226.73.
Read Our Latest Stock Report on SNOW
Insider Activity at Snowflake
In other news, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the sale, the executive vice president owned 547,336 shares in the company, valued at approximately $119,806,377.04. The trade was a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the business's 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 sale, the director owned 26,539 shares of the company's stock, valued at $5,877,592.33. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,718,258 shares of company stock worth $589,762,906 over the last 90 days. 6.80% of the stock is owned by corporate insiders.
Institutional Trading of Snowflake
Institutional investors and hedge funds have recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new stake in Snowflake in the 1st quarter valued at $898,000. SBI Securities Co. Ltd. raised its position in Snowflake by 9.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 60,591 shares of the company's stock valued at $8,856,000 after purchasing an additional 5,197 shares during the last quarter. Deutsche Bank AG raised its position in Snowflake by 26.0% in the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock valued at $142,513,000 after purchasing an additional 190,583 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in Snowflake in the 1st quarter valued at $9,090,000. Finally, Ardmore Road Asset Management LP purchased a new stake in Snowflake in the 4th quarter valued at $18,529,000. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Stock Performance
The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market cap of $72.36 billion, a PE ratio of -51.48 and a beta of 1.22. The firm's 50-day moving average is $207.75 and its 200 day moving average is $178.89.
Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. Snowflake's 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. As a group, research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.
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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