Snowflake (NYSE:SNOW) Rating Reiterated by The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their buy rating on shares of Snowflake (NYSE:SNOW) in a research note published on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a $220.00 price objective on the stock.

A number of other brokerages have also recently weighed in on SNOW. Royal Bank of Canada dropped their price objective on Snowflake from $226.00 to $183.00 and set an outperform rating for the company in a research note on Wednesday, June 5th. StockNews.com cut shares of Snowflake from a hold rating to a sell rating in a report on Friday, May 24th. Loop Capital reduced their target price on shares of Snowflake from $235.00 to $225.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Stifel Nicolaus decreased their price target on shares of Snowflake from $220.00 to $200.00 and set a buy rating for the company in a research report on Thursday, May 23rd. Finally, Bank of America restated a neutral rating and issued a $200.00 price target on shares of Snowflake in a research note on Wednesday, June 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $199.46.

Snowflake Stock Up 0.7 %

Shares of NYSE SNOW opened at $142.86 on Monday. The company’s 50-day simple moving average is $145.02 and its 200-day simple moving average is $171.84. Snowflake has a 52-week low of $122.60 and a 52-week high of $237.72. The firm has a market cap of $47.83 billion, a price-to-earnings ratio of -51.02 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Equities research analysts anticipate that Snowflake will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the transaction, the executive vice president now owns 772,597 shares in the company, valued at approximately $124,504,006.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the transaction, the executive now directly owns 354,954 shares in the company, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Insiders sold 519,112 shares of company stock worth $64,932,073 in the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $25,000. LRI Investments LLC acquired a new position in shares of Snowflake during the 1st quarter worth about $29,000. Riverview Trust Co acquired a new position in Snowflake during the first quarter worth approximately $31,000. Hartford Financial Management Inc. bought a new position in shares of Snowflake during the 1st quarter worth approximately $32,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Snowflake during the 1st quarter worth approximately $32,000. 65.10% of the stock is currently owned by institutional investors.

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, as well as applies artificial intelligence (AI) for solving business problems.