Snowflake (SNOW) to Release Earnings on Wednesday

Snowflake (NYSE:SNOW) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 20th. Analysts expect Snowflake to post earnings of $0.15 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period in the prior year, the company posted ($0.52) EPS. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, analysts expect Snowflake to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Snowflake Stock Performance

Shares of SNOW stock opened at $127.41 on Tuesday. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72. The firm has a market capitalization of $42.71 billion, a PE ratio of -41.64 and a beta of 0.83. The stock has a fifty day moving average of $117.08 and a two-hundred day moving average of $128.09.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several research analyst reports. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. DA Davidson reiterated a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. Scotiabank dropped their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Bank of America decreased their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Wells Fargo & Company dropped their price objective on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $171.59.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

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.