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DA Davidson reaffirmed their buy rating on shares of Snowflake (NYSE:SNOW – Free Report) in a research note published on Wednesday morning,Benzinga reports. They currently have a $250.00 price objective on the stock.
SNOW has been the subject of a number of other reports. Cowen reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, May 22nd. Needham & Company LLC upped their target price on shares of Snowflake from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Loop Capital set a $220.00 target price on shares of Snowflake and gave the company a “buy” rating in a report on Thursday, May 22nd. Robert W. Baird upped their target price on shares of Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Snowflake from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.28.
Read Our Latest Report on SNOW
Snowflake Price Performance
Shares of NYSE:SNOW opened at $209.44 on Wednesday. The company’s fifty day moving average price is $166.87 and its 200 day moving average price is $168.02. Snowflake has a 12 month low of $107.13 and a 12 month 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 firm has a market capitalization of $69.92 billion, a P/E ratio of -61.78 and a beta of 1.21.
Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.14 EPS. Snowflake’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, sell-side analysts predict that Snowflake will post -2.36 earnings per share for the current fiscal year.
Insider Buying and Selling at Snowflake
In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the sale, the executive vice president now owns 622,611 shares of the company’s stock, valued at $91,673,243.64. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Emily Ho sold 5,027 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the completion of the sale, the chief accounting officer now directly owns 40,608 shares in the company, valued at $8,083,428.48. This trade represents a 11.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 849,779 shares of company stock valued at $159,318,643 over the last quarter. Corporate insiders own 6.80% of the company’s stock.
Hedge Funds Weigh In On Snowflake
A number of institutional investors have recently modified their holdings of SNOW. Brighton Jones LLC raised its position in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after buying an additional 29,320 shares during the last quarter. Caprock Group LLC raised its position in shares of Snowflake by 5.5% in the fourth quarter. Caprock Group LLC now owns 4,036 shares of the company’s stock valued at $623,000 after buying an additional 211 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in Snowflake during the fourth quarter worth approximately $402,000. Avitas Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth approximately $260,000. Finally, 1858 Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth approximately $279,000. 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.
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