Snowflake (NYSE:SNOW – Free Report) had its price objective lifted by Truist Financial from $230.00 to $250.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.
A number of other research analysts have also recently commented on the company. Needham & Company LLC reaffirmed a buy rating and set a $225.00 target price on shares of Snowflake in a research note on Monday, January 8th. HSBC cut Snowflake from a buy rating to a hold rating and increased their price objective for the stock from $212.00 to $214.00 in a research note on Thursday, February 15th. Royal Bank of Canada started coverage on Snowflake in a research note on Friday, January 5th. They issued an outperform rating and a $230.00 price objective on the stock. Barclays cut Snowflake from an overweight rating to an equal weight rating and set a $198.00 price objective on the stock. in a research note on Friday, January 12th. Finally, StockNews.com raised Snowflake from a sell rating to a hold rating in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $199.81.
Check Out Our Latest Research Report on Snowflake
Snowflake Price Performance
Shares of SNOW stock opened at $220.10 on Tuesday. Snowflake has a 1 year low of $128.56 and a 1 year high of $237.72. The stock’s 50 day simple moving average is $204.08 and its two-hundred day simple moving average is $175.12. The company has a market cap of $72.48 billion, a PE ratio of -82.13 and a beta of 0.97.
Snowflake (NYSE:SNOW – Get Free Report) last released its earnings results on Wednesday, November 29th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $713.75 million. Snowflake had a negative return on equity of 14.46% and a negative net margin of 33.35%. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.60) earnings per share. Equities research analysts expect that Snowflake will post -1.72 EPS for the current year.
Insider Buying and Selling
In related news, CEO Frank Slootman sold 112,500 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $175.90, for a total value of $19,788,750.00. Following the completion of the transaction, the chief executive officer now owns 182,913 shares in the company, valued at approximately $32,174,396.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snowflake news, SVP Christian Kleinerman sold 1,500 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $230.00, for a total transaction of $345,000.00. Following the sale, the senior vice president now directly owns 725,067 shares of the company’s stock, valued at approximately $166,765,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Slootman sold 112,500 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $175.90, for a total value of $19,788,750.00. Following the sale, the chief executive officer now directly owns 182,913 shares in the company, valued at $32,174,396.70. The disclosure for this sale can be found here. Insiders sold 631,846 shares of company stock worth $125,943,507 in the last 90 days. Insiders own 8.30% of the company’s stock.
Institutional Investors Weigh In On Snowflake
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of Snowflake by 79.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock valued at $984,000 after acquiring an additional 1,897 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Snowflake during the 1st quarter valued at about $2,880,000. Panagora Asset Management Inc. grew its position in shares of Snowflake by 24.8% during the 1st quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock valued at $623,000 after acquiring an additional 540 shares during the period. Raymond James Trust N.A. acquired a new stake in Snowflake in the 1st quarter worth about $362,000. Finally, Cibc World Market Inc. boosted its holdings in Snowflake by 37.2% in the 1st quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock worth $3,198,000 after buying an additional 3,783 shares during the last quarter. 63.74% of the stock is owned by institutional investors and hedge funds.
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.
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Source: defenseworld.net
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