Snowflake Inc. (NYSE:SNOW) Receives $202.77 Average Price Target from Analysts

Snowflake Inc. (NYSE:SNOW) has earned a consensus rating of “Moderate Buy” from the thirty-three ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $202.77.

Several brokerages have issued reports on SNOW. Barclays lowered their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. HSBC reissued a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. JMP Securities upped their price target on Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research report on Thursday, February 29th. Truist Financial lowered their price objective on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Mizuho reaffirmed a “buy” rating and issued a $205.00 target price (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th.

Snowflake Stock Up 2.7 %

NYSE:SNOW opened at $163.70 on Friday. The company has a 50 day moving average price of $161.85 and a 200-day moving average price of $179.19. Snowflake has a 1-year low of $138.40 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Analysts forecast that Snowflake will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the transaction, the senior vice president now owns 726,567 shares in the company, valued at approximately $167,110,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares in the company, valued at approximately $167,110,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,458 shares of company stock worth $31,585,640. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $25,000. Provence Wealth Management Group acquired a new position in shares of Snowflake during the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares during the period. Global Wealth Management Investment Advisory Inc. increased its position in Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in Snowflake during the first quarter worth approximately $31,000. Institutional investors and hedge funds 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.