Brokerages Set Snowflake Inc. (NYSE:SNOW) Price Target at $256.18

Snowflake Inc. (NYSE:SNOW) has been given a consensus recommendation of “Moderate Buy” by the forty-four research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, thirty-six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $256.1842.

SNOW has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price target on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Citigroup restated an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Sanford C. Bernstein increased their price target on Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Raymond James Financial increased their price target on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, CICC Research initiated coverage on Snowflake in a research note on Friday, June 20th. They issued an “outperform” rating and a $225.00 price target on the stock.

Snowflake Trading Up 2.1%

Shares of Snowflake stock opened at $247.29 on Friday. Snowflake has a 12-month low of $113.23 and a 12-month high of $255.39. The stock has a market cap of $83.78 billion, a P/E ratio of -59.59 and a beta of 1.21. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average is $219.41 and its 200-day moving average is $199.79.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue was up 31.8% compared to the same quarter last year. Equities research analysts predict that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $10,505,037.22. Following the transaction, the director owned 36,116 shares in the company, valued at $7,537,048.04. The trade was a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock worth $270,280,661 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new position in Snowflake during the 2nd quarter worth $25,000. Avion Wealth grew its holdings in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares in the last quarter. Rossby Financial LCC grew its holdings in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock worth $34,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

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.