Snowflake (NYSE:SNOW) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to an outperform rating in a research note published on Thursday, MarketBeat reports. BNP Paribas currently has $200.00 target price on the stock.

A number of other research firms also recently commented on SNOW. HSBC reaffirmed a reduce rating on shares of Snowflake in a report on Thursday, February 29th. Macquarie raised shares of Snowflake from a neutral rating to an outperform rating and upped their price objective for the company from $182.00 to $205.00 in a report on Thursday, February 29th. Rosenblatt Securities raised shares of Snowflake from a neutral rating to a buy rating and set a $185.00 target price for the company in a report on Friday, April 5th. Guggenheim raised shares of Snowflake from a sell rating to a neutral rating in a report on Friday, March 15th. Finally, StockNews.com upgraded Snowflake from a sell rating to a hold rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of Moderate Buy and an average price target of $202.77.

Snowflake Trading Up 1.0 %

Shares of Snowflake stock opened at $159.32 on Thursday. The firm’s 50 day simple moving average is $163.20 and its two-hundred day simple moving average is $178.80. The firm has a market capitalization of $53.24 billion, a price-to-earnings ratio of -62.48 and a beta of 0.90. Snowflake has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. On average, sell-side analysts predict that Snowflake will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the transaction, the insider now owns 55,216 shares in the company, valued at approximately $8,627,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the transaction, the executive now owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The disclosure for this sale can be found here. Insiders sold 168,458 shares of company stock valued at $33,785,640 over the last quarter. 8.30% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

Institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Snowflake during the 4th quarter worth about $838,455,000. Vanguard Group Inc. boosted its stake in Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after buying an additional 1,559,830 shares during the period. FMR LLC increased its position in shares of Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Snowflake in the 3rd quarter valued at approximately $226,302,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Snowflake in the 1st quarter worth approximately $171,608,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.