Scotiabank Predicts Snowflake’s FY2027 Earnings (NYSE:SNOW)

Snowflake Inc. (NYSE:SNOW) – Equities research analysts at Scotiabank increased their FY2027 earnings per share (EPS) estimates for shares of Snowflake in a research note issued on Thursday, September 10th. Scotiabank analyst P. Colville now anticipates that the company will post earnings per share of ($1.32) for the year, up from their previous estimate of ($1.81). Scotiabank currently has a “Sector Outperform” rating and a $440.00 price objective on the stock. The consensus estimate for Snowflake’s current full-year earnings is ($1.60) per share.

A number of other equities analysts also recently commented on SNOW. Wells Fargo & Company upped their price objective on shares of Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Citizens Jmp increased their price target on shares of Snowflake from $408.00 to $488.00 and gave the stock a “market outperform” rating in a report on Thursday, September 3rd. KeyCorp raised their price objective on shares of Snowflake from $285.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Jefferies Financial Group set a $430.00 price objective on Snowflake and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, Needham & Company LLC boosted their target price on Snowflake from $330.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Thirty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $414.24.

Snowflake Stock Performance

NYSE:SNOW opened at $331.65 on Tuesday. The firm’s fifty day moving average price is $306.58 and its 200 day moving average price is $227.42. Snowflake has a 1-year low of $118.30 and a 1-year high of $384.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $117.00 billion, a price-to-earnings ratio of -104.29 and a beta of 1.33.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%.The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s quarterly revenue was up 35.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its stake in Snowflake by 14.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 39,598 shares of the company’s stock valued at $10,078,000 after purchasing an additional 4,927 shares in the last quarter. MCF Advisors LLC raised its holdings in Snowflake by 1,557.9% during the second quarter. MCF Advisors LLC now owns 315 shares of the company’s stock worth $80,000 after purchasing an additional 296 shares during the last quarter. National Pension Service boosted its position in Snowflake by 3.3% during the second quarter. National Pension Service now owns 690,349 shares of the company’s stock worth $175,694,000 after purchasing an additional 21,915 shares in the last quarter. Engineers Gate Manager LP boosted its position in Snowflake by 434.3% during the second quarter. Engineers Gate Manager LP now owns 156,869 shares of the company’s stock worth $39,923,000 after purchasing an additional 127,511 shares in the last quarter. Finally, NorthRock Partners LLC grew its holdings in Snowflake by 30.1% in the second quarter. NorthRock Partners LLC now owns 2,747 shares of the company’s stock valued at $699,000 after purchasing an additional 635 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 25,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $325.00, for a total value of $8,125,000.00. Following the completion of the transaction, the executive vice president owned 340,379 shares in the company, valued at $110,623,175. This trade represents a 6.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Speiser sold 50,338 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $324.06, for a total transaction of $16,312,532.28. Following the completion of the sale, the director owned 26,036 shares of the company’s stock, valued at $8,437,226.16. This trade represents a 65.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,216,974 shares of company stock valued at $350,103,983. Company insiders own 4.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc (NYSE: SNOW) is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.

Snowflake’s Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake’s marketplace and partner ecosystem.

Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.