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Snowflake (NYSE:SNOW – Free Report) had its target price upped by Mizuho from $215.00 to $235.00 in a report issued on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.
A number of other equities analysts also recently issued reports on SNOW. Robert W. Baird raised their price target on Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. HSBC downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group lifted their target price on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Cowen reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Raymond James reiterated an “outperform” rating and set a $212.00 target price (up from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $221.28.
View Our Latest Analysis on SNOW
Snowflake Stock Performance
SNOW stock opened at $209.44 on Wednesday. The company has a market cap of $69.92 billion, a P/E ratio of -61.78 and a beta of 1.21. Snowflake has a 1 year low of $107.13 and a 1 year high of $214.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s fifty day moving average price is $166.87 and its 200-day moving average price is $168.02.
Snowflake (NYSE:SNOW – Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. On average, equities analysts forecast that Snowflake will post -2.36 earnings per share for the current year.
Insider Transactions at Snowflake
In other Snowflake news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the sale, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 3,765 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $586,172.85. Following the sale, the executive vice president now owns 616,602 shares in the company, valued at approximately $95,998,765.38. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 849,779 shares of company stock valued at $159,318,643. 6.80% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Snowflake
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP raised its position in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after purchasing an additional 59 shares during the period. Ignite Planners LLC raised its position in Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock valued at $418,000 after purchasing an additional 64 shares during the period. Gabelli Funds LLC raised its position in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after purchasing an additional 65 shares during the period. Archford Capital Strategies LLC raised its position in Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock valued at $527,000 after purchasing an additional 68 shares during the period. Finally, TD Private Client Wealth LLC raised its position in Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after purchasing an additional 68 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.
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.
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