Snowflake (NYSE:SNOW) Stock Rating Upgraded by Raymond James Financial

by · The Markets Daily

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

Several other analysts have also weighed in on SNOW. Canaccord Genuity Group raised their price objective on Snowflake from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $285.00 target price on shares of Snowflake in a report on Thursday, December 4th. Scotiabank reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, December 4th. The Goldman Sachs Group lifted their price objective on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Morgan Stanley upped their target price on Snowflake from $272.00 to $299.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.32.

View Our Latest Stock Analysis on Snowflake

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $0.37 on Monday, reaching $220.97. 775,516 shares of the company’s stock were exchanged, compared to its average volume of 5,239,058. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $75.62 billion, a price-to-earnings ratio of -54.70 and a beta of 1.09. The company has a fifty day moving average of $249.39 and a 200-day moving average of $227.70. Snowflake has a twelve month low of $120.10 and a twelve month high of $280.67.

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

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the transaction, the executive vice president directly owned 532,450 shares of the company’s stock, valued at $119,204,906. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 33,596 shares of the company’s stock, valued at $8,644,250.80. The trade was a 59.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 221,537 shares of company stock valued at $53,336,395 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake during the second quarter worth approximately $25,000. Avion Wealth raised its holdings in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Snowflake in the third quarter valued at $25,000. Tripletail Wealth Management LLC acquired a new position in shares of Snowflake during the third quarter valued at about $28,000. Finally, Rossby Financial LCC increased its position in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares in the last quarter. Institutional investors 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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