Snowflake (NYSE:SNOW) Receives “Buy” Rating from The Goldman Sachs Group

The Goldman Sachs Group reiterated their buy rating on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a $220.00 price objective on the stock.

Several other equities analysts also recently weighed in on SNOW. Guggenheim raised Snowflake from a sell rating to a neutral rating in a research note on Friday, March 15th. Robert W. Baird cut their target price on shares of Snowflake from $210.00 to $200.00 and set an outperform rating for the company in a research report on Thursday, May 23rd. Piper Sandler reiterated an overweight rating and set a $240.00 price objective on shares of Snowflake in a research report on Wednesday, June 5th. Needham & Company LLC reissued a buy rating and set a $210.00 price objective on shares of Snowflake in a research note on Wednesday, June 5th. Finally, Canaccord Genuity Group lowered their target price on shares of Snowflake from $230.00 to $215.00 and set a buy rating for the company in a research note on Friday, May 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $199.46.

Snowflake Trading Up 0.7 %

Snowflake stock opened at $142.86 on Monday. The stock has a 50 day moving average of $145.02 and a two-hundred day moving average of $171.84. Snowflake has a twelve month low of $122.60 and a twelve month high of $237.72. The stock has a market capitalization of $47.83 billion, a price-to-earnings ratio of -51.02 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Equities analysts predict that Snowflake will post -2.28 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, 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 sale, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares in the company, valued at approximately $124,504,006.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of the sale, the executive now owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The disclosure for this sale can be found here. Insiders sold 519,112 shares of company stock worth $64,932,073 in the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Accent Capital Management LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $25,000. LRI Investments LLC acquired a new stake in shares of Snowflake during the first quarter worth $29,000. FinTrust Capital Advisors LLC grew its stake in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares during the period. Riverview Trust Co bought a new stake in Snowflake in the first quarter valued at about $31,000. Finally, M&R Capital Management Inc. lifted its stake in Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after buying an additional 100 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.