Snowflake (NYSE:SNOW) had its price objective hoisted by investment analysts at Barclays from $360.00 to $393.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 13.88% from the company’s previous close.
A number of other equities analysts have also recently commented on SNOW. Stifel Nicolaus raised their target price on Snowflake from $275.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, August 26th. Loop Capital raised their target price on Snowflake from $250.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, August 26th. Rosenblatt Securities cut Snowflake from a “buy” rating to a “neutral” rating and raised their target price for the company from $300.00 to $370.00 in a report on Friday, November 19th. They noted that the move was a valuation call. JMP Securities raised their target price on Snowflake from $320.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, October 19th. Finally, BTIG Research raised their target price on Snowflake from $353.00 to $421.00 and gave the company a “buy” rating in a report on Monday, November 29th. Twelve analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $359.13.
Shares of NYSE:SNOW opened at $345.11 on Thursday. The business has a 50-day moving average price of $344.47 and a 200 day moving average price of $295.18. The company has a market capitalization of $103.84 billion, a price-to-earnings ratio of -113.15 and a beta of 1.55. Snowflake has a 12-month low of $184.71 and a 12-month high of $429.00.
Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, December 1st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. The firm had revenue of $334.44 million during the quarter, compared to the consensus estimate of $306.13 million. Snowflake had a negative return on equity of 15.26% and a negative net margin of 89.38%. The company’s quarterly revenue was up 109.5% on a year-over-year basis. During the same period last year, the company earned ($1.00) EPS. On average, sell-side analysts expect that Snowflake will post -2.11 EPS for the current year.
In other Snowflake news, CEO Frank Slootman sold 63,093 shares of Snowflake stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $311.74, for a total transaction of $19,668,611.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Christopher William Degnan sold 12,778 shares of Snowflake stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $323.40, for a total value of $4,132,405.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 846,657 shares of company stock valued at $285,239,811. 11.30% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new position in shares of Snowflake in the second quarter valued at approximately $29,000. Monetary Management Group Inc. increased its holdings in shares of Snowflake by 150.0% in the second quarter. Monetary Management Group Inc. now owns 125 shares of the company’s stock valued at $30,000 after purchasing an additional 75 shares during the period. Bedel Financial Consulting Inc. increased its holdings in shares of Snowflake by 94.0% in the second quarter. Bedel Financial Consulting Inc. now owns 130 shares of the company’s stock valued at $31,000 after purchasing an additional 63 shares during the period. Moors & Cabot Inc. acquired a new position in shares of Snowflake in the third quarter valued at approximately $31,000. Finally, Private Capital Group LLC acquired a new position in shares of Snowflake in the third quarter valued at approximately $35,000. 62.42% of the stock is currently owned by institutional investors and hedge funds.
Snowflake Company Profile
Snowflake Inc provides cloud-based data platform in the United States and internationally. The company’s platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.
Further Reading: What is required to own or exchange cryptocurrency?
