Snowflake’s (SNOW) “Neutral” Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of Snowflake (NYSE:SNOW) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $210.00 price objective on the stock.

SNOW has been the subject of a number of other reports. BNP Paribas raised shares of Snowflake from a neutral rating to an outperform rating and set a $200.00 price target for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Snowflake from $200.00 to $170.00 and set an overweight rating for the company in a research note on Thursday, February 29th. StockNews.com raised shares of Snowflake from a sell rating to a hold rating in a research note on Thursday, May 16th. HSBC reaffirmed a reduce rating on shares of Snowflake in a research note on Thursday, February 29th. Finally, UBS Group upped their price objective on shares of Snowflake from $185.00 to $225.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. 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. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $201.69.

Snowflake Trading Up 0.4 %

Shares of NYSE SNOW opened at $163.29 on Wednesday. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72. The company has a market capitalization of $54.57 billion, a price-to-earnings ratio of -64.04 and a beta of 0.90. The firm has a 50-day moving average of $157.13 and a two-hundred day moving average of $180.26.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results 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 company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. As a group, research analysts predict that Snowflake will post -1.83 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Mark D. Mclaughlin acquired 3,030 shares of Snowflake stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $165.45 per share, with a total value of $501,313.50. Following the completion of the transaction, the director now owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Snowflake news, Director Mark D. Mclaughlin acquired 3,030 shares of Snowflake stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $165.45 per share, with a total value of $501,313.50. Following the completion of the transaction, the director now owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 8,515 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value 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 $8,627,500. The disclosure for this sale can be found here. Insiders have sold a total of 62,380 shares of company stock worth $9,803,625 over the last 90 days. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cigna Investments Inc. New lifted its position in Snowflake by 1.6% in the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after purchasing an additional 51 shares during the period. E&G Advisors LP lifted its position in Snowflake by 3.0% in the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after purchasing an additional 51 shares during the period. Commerce Bank lifted its position in Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after purchasing an additional 51 shares during the period. Parkside Financial Bank & Trust lifted its position in Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the period. Finally, Valley National Advisers Inc. lifted its position in Snowflake by 18.1% in the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after purchasing an additional 53 shares during the period. 65.10% of the stock is owned by institutional investors.

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.