Snowflake Inc. (NYSE:SNOW) Receives $175.17 Average Target Price from Analysts

Shares of Snowflake Inc. (NYSE:SNOW) have received a consensus rating of “Moderate Buy” from the thirty-eight analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $174.74.

A number of equities research analysts have weighed in on SNOW shares. Evercore ISI reduced their target price on Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Bank of America decreased their target price on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Loop Capital lowered their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Piper Sandler restated an “overweight” rating and issued a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Wedbush lowered their price objective on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the business’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 $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,538 shares of company stock valued at $3,449,994 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several large investors have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in Snowflake in the 1st quarter valued at $29,000. FinTrust Capital Advisors LLC lifted its stake in Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Riverview Trust Co purchased a new position in Snowflake during the 1st quarter worth $31,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Snowflake during the 1st quarter worth $32,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 3.8 %

SNOW opened at $114.72 on Tuesday. The stock has a market capitalization of $38.41 billion, a price-to-earnings ratio of -40.97 and a beta of 0.83. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50-day simple moving average of $117.12 and a 200 day simple moving average of $135.94.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.52) EPS. Sell-side analysts anticipate that Snowflake will post -2.41 EPS for the current fiscal year.

About Snowflake

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.