Snowflake (NYSE:SNOW) Upgraded by Raymond James Financial to Moderate Buy Rating

by · The Cerbat Gem

Snowflake (NYSE:SNOW – Get Free Report) was upgraded by analysts at Raymond James Financial to a “moderate buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

SNOW has been the topic of several other research reports. Wells Fargo & Company upped their price objective on Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. JMP Securities lifted their price objective on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 28th. Cantor Fitzgerald increased their price objective on shares of Snowflake from $275.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Barclays upped their price target on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, KeyCorp boosted their price objective on Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.32.

View Our Latest Analysis on Snowflake

Snowflake Trading Up 2.4%

NYSE SNOW opened at $220.45 on Monday. The company has a market cap of $75.44 billion, a PE ratio of -54.57 and a beta of 1.09. Snowflake has a 12 month low of $120.10 and a 12 month high of $280.67. The stock has a 50 day moving average of $249.39 and a 200-day moving average of $227.70. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. On average, equities research analysts anticipate that Snowflake will post -2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 7,728 shares of Snowflake stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $212.45, for a total transaction of $1,641,813.60. Following the sale, the director directly owned 140,945 shares of the company’s stock, valued at approximately $29,943,765.25. The trade was a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the sale, the director directly owned 33,596 shares in the company, valued at $8,644,250.80. The trade was a 59.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 221,537 shares of company stock worth $53,336,395. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Snowflake by 73.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 3,924 shares of the company’s stock worth $573,000 after purchasing an additional 1,668 shares in the last quarter. Aberdeen Group plc lifted its stake in Snowflake by 4.7% in the first quarter. Aberdeen Group plc now owns 57,128 shares of the company’s stock valued at $8,350,000 after buying an additional 2,549 shares during the period. Northwest & Ethical Investments L.P. bought a new position in shares of Snowflake during the 1st quarter worth approximately $723,000. Finally, Algert Global LLC bought a new stake in shares of Snowflake in the 1st quarter valued at $398,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

(Get Free Report)

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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