Snowflake (NYSE:SNOW) Issues Quarterly Earnings Results

Snowflake (NYSE:SNOW) posted its quarterly earnings data on Wednesday. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.07), Zacks reports. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%.

Snowflake Stock Performance

SNOW traded up $2.00 during mid-day trading on Wednesday, reaching $166.20. 10,571,445 shares of the company traded hands, compared to its average volume of 5,334,504. The company’s fifty day moving average price is $172.71 and its 200-day moving average price is $144.79. The stock has a market capitalization of $54.86 billion, a P/E ratio of -49.03 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 52-week low of $107.13 and a 52-week high of $235.66.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNOW. Monness Crespi & Hardt lifted their price objective on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald started coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective on the stock. Evercore ISI raised their target price on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. KeyCorp upped their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC boosted their price objective on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.19.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,810 shares of company stock worth $63,340,544. 7.80% of the stock is owned by insiders.

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.