Snowflake (NYSE:SNOW) Trading 1.1% Higher on Analyst Upgrade

Snowflake Inc. (NYSE:SNOW)’s stock price traded up 1.1% during trading on Friday after Oppenheimer raised their price target on the stock from $225.00 to $250.00. Oppenheimer currently has an outperform rating on the stock. Snowflake traded as high as $212.75 and last traded at $212.33. 908,179 shares were traded during trading, a decline of 86% from the average session volume of 6,346,698 shares. The stock had previously closed at $210.10.

Several other research firms also recently commented on SNOW. Jefferies Financial Group boosted their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Truist Financial boosted their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Morgan Stanley reissued an “equal weight” rating on shares of Snowflake in a research report on Thursday, May 22nd. Loop Capital upped their price objective on shares of Snowflake from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $221.97.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the sale, the executive vice president now owns 622,611 shares in the company, valued at $91,673,243.64. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,779 shares of company stock valued at $159,318,643. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of SNOW. Norges Bank purchased a new stake in Snowflake in the 4th quarter worth approximately $988,950,000. GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $750,572,000. Nuveen LLC purchased a new stake in Snowflake in the 1st quarter worth approximately $555,847,000. FMR LLC lifted its stake in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after purchasing an additional 2,460,769 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Up 0.3%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. The company’s 50 day simple moving average is $169.37 and its 200-day simple moving average is $169.43.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. On average, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.