Snowflake (NYSE:SNOW) Upgraded at StockNews.com

by · The Markets Daily

Snowflake (NYSE:SNOW – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Other equities research analysts have also issued research reports about the company. Wedbush raised Snowflake to a “hold” rating in a research report on Thursday, October 17th. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Barclays decreased their target price on Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Evercore ISI reduced their price objective on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research note on Tuesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.59.

Read Our Latest Stock Analysis on Snowflake

Snowflake Stock Down 0.9 %

Shares of Snowflake stock traded down $1.12 during mid-day trading on Wednesday, reaching $129.12. 10,962,865 shares of the stock traded hands, compared to its average volume of 6,496,076. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The business has a 50-day moving average of $117.82 and a 200 day moving average of $127.89. The stock has a market capitalization of $43.28 billion, a PE ratio of -42.20 and a beta of 0.83.

Snowflake (NYSE:SNOW – Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.52) earnings per share. On average, equities research analysts expect that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at $23,877,196.65. This trade represents a 2.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 in the last three months. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. LRI Investments LLC bought a new stake in shares of Snowflake during the 1st quarter worth $29,000. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake in the 2nd quarter worth about $27,000. Groupama Asset Managment bought a new position in shares of Snowflake during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake during the 3rd quarter valued at about $30,000. Finally, Global Financial Private Client LLC bought a new stake in Snowflake in the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

(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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