Snowflake Inc. (NYSE:SNOW) Receives $175.17 Average Price Target from Analysts

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-eight ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $174.74.

A number of research firms recently weighed in on SNOW. DA Davidson reissued a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday. Needham & Company LLC decreased their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Loop Capital cut their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Wedbush decreased their price target on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th.

Snowflake Trading Up 0.7 %

SNOW opened at $110.47 on Tuesday. The business has a 50 day moving average of $117.40 and a 200-day moving average of $136.38. The stock has a market capitalization of $36.99 billion, a price-to-earnings ratio of -39.45 and a beta of 0.83. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the firm earned ($0.52) EPS. The business’s revenue was up 28.9% on a year-over-year basis. Equities analysts predict that Snowflake will post -2.41 EPS for the current year.

Insider Buying and Selling

In other news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. The disclosure for this sale can be found here. Insiders sold a total of 29,538 shares of company stock worth $3,449,994 over the last three months. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after acquiring an additional 297,428 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Snowflake by 3.7% during the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Legal & General Group Plc grew its position in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares during the period. 1832 Asset Management L.P. increased its stake in Snowflake by 51.8% during the 4th quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock worth $334,459,000 after purchasing an additional 573,400 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Snowflake during the 1st quarter worth approximately $258,957,000. 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.