Snowflake (NYSE:SNOW) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Snowflake (NYSE:SNOWFree Report) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Other equities research analysts have also recently issued reports about the stock. Wedbush boosted their price target on shares of Snowflake from $144.00 to $210.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Citigroup reduced their price target on Snowflake from $290.00 to $240.00 and set a buy rating for the company in a research report on Monday, March 4th. Macquarie raised Snowflake from a neutral rating to an outperform rating and boosted their price target for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Morgan Stanley reissued an equal weight rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Monness Crespi & Hardt raised shares of Snowflake from a sell rating to a neutral rating in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $202.50.

Get Our Latest Stock Analysis on SNOW

Snowflake Price Performance

SNOW stock opened at $153.02 on Wednesday. The stock has a market capitalization of $50.39 billion, a P/E ratio of -60.01 and a beta of 0.91. Snowflake has a fifty-two week low of $135.26 and a fifty-two week high of $237.72. The business has a 50-day moving average of $192.02 and a 200-day moving average of $179.18.

Snowflake (NYSE:SNOWGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Equities analysts expect that Snowflake will post -1.92 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $190.00, for a total transaction of $285,000.00. Following the completion of the sale, the senior vice president now owns 756,567 shares of the company’s stock, valued at approximately $143,747,730. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,355 shares of company stock worth $37,679,411. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake during the 4th quarter worth $25,000. Mango Five Family Inc. acquired a new position in Snowflake during the fourth quarter worth about $26,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Snowflake by 822.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock valued at $38,000 after purchasing an additional 148 shares in the last quarter. Finally, VitalStone Financial LLC grew its holdings in shares of Snowflake by 616.0% during the 2nd quarter. VitalStone Financial LLC now owns 179 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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