Snowflake (NYSE:SNOW) Raised to “Buy” at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to a buy rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has $140.00 target price on the stock.

Several other equities research analysts also recently issued reports on the stock. Evercore ISI decreased their price objective on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Wedbush raised shares of Snowflake to a “hold” rating in a research report on Thursday, October 17th. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley restated an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Finally, UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.56.

Snowflake Stock Down 2.1 %

Shares of NYSE SNOW opened at $120.89 on Wednesday. The stock has a market capitalization of $40.52 billion, a PE ratio of -39.50 and a beta of 0.83. The firm has a fifty day moving average of $115.15 and a 200-day moving average of $129.65. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the business posted ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts expect that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated 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 in the company, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 in the last ninety days. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank lifted its position in Snowflake by 17.2% in the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after purchasing an additional 4,296 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Snowflake by 23.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after buying an additional 43,062 shares in the last quarter. Cetera Investment Advisers grew its holdings in Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after acquiring an additional 42,563 shares during the period. LRI Investments LLC bought a new stake in Snowflake in the first quarter worth about $29,000. Finally, Fulton Bank N.A. raised its position in Snowflake by 17.4% in the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after acquiring an additional 228 shares in the last quarter. 65.10% of the stock is currently owned by 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.