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

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned a consensus rating of “Moderate Buy” from the thirty-four analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $198.85.

A number of research analysts recently commented on the company. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Sanford C. Bernstein lifted their price target on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Bank of America reissued a “neutral” rating and set a $200.00 price objective on shares of Snowflake in a report on Wednesday, June 12th. Barclays lifted their target price on Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a report on Thursday, May 23rd. Finally, Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th.

Snowflake Price Performance

Shares of NYSE SNOW opened at $135.09 on Friday. Snowflake has a 1 year low of $122.60 and a 1 year high of $237.72. The firm has a fifty day moving average price of $145.74 and a 200-day moving average price of $173.23.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. As a group, equities analysts expect that Snowflake will post -2.28 EPS for the current year.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the transaction, the chief accounting officer now owns 30,613 shares in the company, valued at approximately $3,991,629.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Snowflake news, CAO Emily Ho sold 3,845 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the transaction, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were 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 $8,112,014.82. The disclosure for this sale can be found here. Insiders have sold a total of 519,112 shares of company stock valued at $64,932,073 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in SNOW. Cigna Investments Inc. New increased its stake in shares of Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after acquiring an additional 51 shares during the last quarter. E&G Advisors LP boosted its position in shares of Snowflake by 3.0% during the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after purchasing an additional 51 shares during the period. Commerce Bank grew its stake in shares of Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after buying an additional 51 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds 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.