Snowflake Inc. (NYSE:SNOW - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirty-seven research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $171.59.
Several analysts recently issued reports on SNOW shares. KeyCorp cut their price target on Snowflake from $168.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. HSBC raised Snowflake from a "reduce" rating to a "hold" rating and upped their target price for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Monness Crespi & Hardt raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on shares of Snowflake from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Finally, DA Davidson reaffirmed a "buy" rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd.
Get Our Latest Report on SNOW
In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares of the company's stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benoit Dageville sold 287 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares of the company's stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 over the last ninety days. Company insiders own 7.80% of the company's stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company's stock worth $788,755,000 after buying an additional 54,909 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock valued at $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP raised its stake in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in 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 last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
NYSE:SNOW opened at $130.26 on Wednesday. The business's 50-day moving average is $117.48 and its two-hundred day moving average is $127.89. The firm has a market capitalization of $43.66 billion, a PE ratio of -42.57 and a beta of 0.83. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72.
Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate 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 company had revenue of $868.80 million during the quarter, compared to analysts' expectations of $851.72 million. During the same period in the prior year, the business posted ($0.52) EPS. The business's revenue was up 28.9% on a year-over-year basis. Equities analysts anticipate that Snowflake will post -2.41 EPS for the current year.
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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