Snowflake Inc. (NYSE:SNOW) Receives Average Recommendation of "Moderate Buy" from Brokerages

Snowflake Inc. (NYSE:SNOW - Get Free Report) has received an average rating of "Moderate Buy" from the thirty-seven research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $171.59.

SNOW has been the topic of a number of research reports. StockNews.com upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Piper Sandler reissued an "overweight" rating and set a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. KeyCorp dropped their target price on Snowflake from $168.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Wedbush raised Snowflake to a "hold" rating in a research note on Thursday, October 17th. Finally, DA Davidson reaffirmed a "buy" rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd.

Snowflake Stock Down 0.9 %

NYSE:SNOW traded down $1.12 on Wednesday, hitting $129.12. The stock had a trading volume of 10,962,865 shares, compared to its average volume of 6,496,076. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of -42.57 and a beta of 0.83. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a fifty day moving average price of $117.48 and a two-hundred day moving average price of $127.89.

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, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million for the quarter, compared to analysts' expectations of $851.72 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. The firm's revenue for the quarter was up 28.9% on a year-over-year basis. As a group, analysts anticipate that Snowflake will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 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 $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. ProShare Advisors LLC lifted its holdings in shares of Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company's stock valued at $230,000 after purchasing an additional 295 shares during the last quarter. Covestor Ltd raised its holdings in shares of Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company's stock valued at $57,000 after purchasing an additional 70 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Snowflake by 21.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company's stock worth $2,042,000 after acquiring an additional 2,191 shares during the period. UniSuper Management Pty Ltd raised its holdings in Snowflake by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company's stock valued at $646,000 after acquiring an additional 2,000 shares during the period. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Snowflake in the 1st quarter worth about $454,000. 65.10% of the stock is currently owned by hedge funds and other 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.