Snowflake (NYSE:SNOW) Given “Outperform” Rating at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Snowflake (NYSE:SNOW) in a report published on Thursday, Benzinga reports. They currently have a $220.00 price objective on the stock.

Several other analysts also recently issued reports on the stock. KeyCorp upped their price objective on shares of Snowflake from $185.00 to $200.00 and gave the stock an overweight rating in a report on Thursday. Wedbush reaffirmed a neutral rating and set a $210.00 price objective on shares of Snowflake in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Snowflake from $170.00 to $185.00 and gave the stock an overweight rating in a report on Thursday. Evercore ISI decreased their price objective on shares of Snowflake from $250.00 to $225.00 and set an outperform rating for the company in a report on Thursday, February 29th. Finally, Redburn Atlantic reaffirmed a sell rating and set a $125.00 price objective (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $201.19.

Snowflake Trading Down 5.4 %

Snowflake stock opened at $154.58 on Thursday. The firm’s 50 day moving average price is $157.04 and its two-hundred day moving average price is $180.08. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. As a group, sell-side analysts expect that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction that occurred 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 directly owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The disclosure for this sale can be found here. Insiders sold 62,380 shares of company stock worth $9,803,625 in the last quarter. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently added to or reduced their stakes in the stock. Accent Capital Management LLC bought a new stake in Snowflake in the fourth quarter worth $25,000. LRI Investments LLC bought a new stake in Snowflake in the first quarter worth $29,000. FinTrust Capital Advisors LLC boosted its holdings in Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after acquiring an additional 128 shares in the last quarter. Riverview Trust Co bought a new stake in Snowflake in the first quarter worth $31,000. Finally, Provence Wealth Management Group bought a new stake in Snowflake in the third quarter worth $30,000. 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.