Snowflake Inc. (NYSE:SNOW) Given Consensus Rating of “Moderate Buy” by Brokerages

Snowflake Inc. (NYSE:SNOW) has earned a consensus rating of “Moderate Buy” from the thirty-five analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and twenty-five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $197.31.

Several research firms have issued reports on SNOW. Barclays boosted their price objective on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 23rd. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of Snowflake in a research report on Thursday, June 6th. Loop Capital decreased their target price on Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $235.00 target price on shares of Snowflake in a report on Tuesday, June 4th.

Snowflake Trading Down 5.3 %

Shares of Snowflake stock opened at $125.62 on Thursday. The business’s fifty day moving average price is $138.32 and its 200 day moving average price is $165.80. Snowflake has a twelve month low of $122.60 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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 during 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%. On average, research analysts predict that Snowflake will post -2.28 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the sale, the executive vice president now owns 494,942 shares in the company, valued at $60,922,410.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the sale, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 533,460 shares of company stock worth $66,963,450. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

Several hedge funds have recently added to or reduced their stakes in SNOW. Vanguard Group Inc. lifted its holdings in Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after purchasing an additional 297,428 shares during the period. Jennison Associates LLC boosted its holdings in shares of Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after acquiring an additional 249,249 shares in the last quarter. Sands Capital Management LLC increased its stake in shares of Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after acquiring an additional 610,970 shares during the period. Norges Bank bought a new stake in Snowflake during the fourth quarter worth approximately $838,455,000. Finally, WCM Investment Management LLC lifted its position in Snowflake by 0.6% in the first quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after purchasing an additional 11,677 shares during the period. Institutional investors own 65.10% of the company’s stock.

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.