Snowflake (NYSE:SNOW) Announces Earnings Results, Beats Estimates By $0.02 EPS

Snowflake (NYSE:SNOW) posted its quarterly earnings data on Wednesday. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02, Briefing.com reports. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period in the prior year, the firm earned ($0.52) earnings per share. The business’s quarterly revenue was up 28.9% on a year-over-year basis.

Snowflake Price Performance

Shares of NYSE SNOW traded up $0.65 during mid-day trading on Friday, hitting $115.86. The company had a trading volume of 16,524,891 shares, compared to its average volume of 6,670,023. Snowflake has a 12 month low of $107.93 and a 12 month high of $237.72. The firm has a market cap of $38.79 billion, a P/E ratio of -41.41 and a beta of 0.85. The business’s 50-day simple moving average is $129.96 and its 200-day simple moving average is $155.31.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $137.14, for a total value of $2,057,100.00. Following the completion of the transaction, the executive vice president now directly owns 757,597 shares in the company, valued at $103,896,852.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $137.14, for a total value of $2,057,100.00. Following the sale, the executive vice president now owns 757,597 shares of the company’s stock, valued at $103,896,852.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser purchased 76,200 shares of the business’s stock in a transaction on Friday, June 7th. The shares were acquired at an average price of $131.09 per share, with a total value of $9,989,058.00. Following the purchase, the director now owns 1,632,225 shares of the company’s stock, valued at $213,968,375.25. The disclosure for this purchase can be found here. Insiders have sold 527,678 shares of company stock worth $65,491,235 over the last three months. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNOW shares. Robert W. Baird decreased their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday. Loop Capital lowered their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $220.00 price objective on shares of Snowflake in a research note on Thursday, May 23rd. Citigroup decreased their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Company Profile

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.