Snowflake's (SNOW) Market Outperform Rating Reaffirmed at JMP Securities

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "market outperform" rating reaffirmed by stock analysts at JMP Securities in a note issued to investors on Wednesday,Benzinga reports. They currently have a $245.00 target price on the stock. JMP Securities' price objective would suggest a potential upside of 16.67% from the company's current price.

Other research analysts have also issued research reports about the stock. Morgan Stanley reissued an "equal weight" rating on shares of Snowflake in a research note on Thursday, May 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Evercore ISI restated an "outperform" rating and set a $232.00 target price (up from $200.00) on shares of Snowflake in a report on Thursday, May 22nd. Loop Capital set a $220.00 target price on shares of Snowflake and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Cowen reiterated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.28.

Snowflake Price Performance

SNOW traded up $0.39 during midday trading on Wednesday, hitting $209.99. The company had a trading volume of 5,229,333 shares, compared to its average volume of 6,366,464. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $70.11 billion, a PE ratio of -61.94 and a beta of 1.21. Snowflake has a twelve month low of $107.13 and a twelve month high of $214.83. The firm's 50-day simple moving average is $166.87 and its 200-day simple moving average is $168.02.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share 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 analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. Equities research analysts predict that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares in the company, valued at $28,345,319.64. This represents a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, April 4th. The stock was 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 owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock valued at $159,318,643 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after buying an additional 316,573 shares during the last quarter. Norges Bank purchased a new stake in Snowflake during the fourth quarter valued at about $988,950,000. FMR LLC lifted its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. GQG Partners LLC purchased a new stake in Snowflake during the fourth quarter valued at about $750,572,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock valued at $691,693,000 after purchasing an additional 763,673 shares during the last quarter. 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.