Snowflake (NYSE:SNOW) Stock Moved Down to Moderate Buy by Phillip Securities

Phillip Securities cut shares of Snowflake (NYSE:SNOW) from a strong-buy rating to a moderate buy rating in a report published on Monday morning,Zacks reports.

A number of other research firms have also commented on SNOW. Mizuho set a $425.00 price target on Snowflake in a report on Thursday, September 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snowflake in a research report on Tuesday, September 8th. Canaccord Genuity Group boosted their price objective on Snowflake from $325.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Raymond James Financial boosted their price objective on Snowflake from $275.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $450.00 price objective (up from $320.00) on shares of Snowflake in a report on Thursday, September 3rd. Thirty-five 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $414.24.

Snowflake Stock Down 2.5%

SNOW opened at $359.85 on Monday. The company has a 50 day moving average of $332.25 and a 200 day moving average of $250.65. The company has a market cap of $126.95 billion, a PE ratio of -113.16 and a beta of 1.35. Snowflake has a 12 month low of $118.30 and a 12 month high of $384.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $0.35 EPS. Snowflake’s revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts expect that Snowflake will post -1.46 EPS for the current year.

Insider Activity

In related news, Director Mark Garrett sold 50,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $350.00, for a total value of $17,500,000.00. Following the sale, the director owned 10,074 shares in the company, valued at approximately $3,525,900. This trade represents a 83.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 25,000 shares of Snowflake stock in a transaction on 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 sale, the executive vice president directly owned 340,379 shares of the company’s stock, valued at $110,623,175. This represents a 6.84% 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. Insiders have sold 1,246,429 shares of company stock valued at $396,227,952 over the last 90 days. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. bought a new stake in Snowflake during the fourth quarter worth about $345,619,000. Pictet Asset Management Holding SA boosted its holdings in shares of Snowflake by 44.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after purchasing an additional 803,110 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in shares of Snowflake by 4,284.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company’s stock worth $105,013,000 after purchasing an additional 680,397 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Snowflake by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after purchasing an additional 544,960 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Snowflake by 76.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock valued at $176,736,000 after purchasing an additional 509,230 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Needham reaffirmed its Buy rating and maintained a $450 price target, implying meaningful upside from recent trading levels. Snowflake’s Buy Rating Reaffirmed at Needham
• Positive Sentiment: Snowflake appointed database researcher Jeff Naughton as a Technical Fellow. His work will focus on data systems for AI agents and changing enterprise workloads, supporting the company’s long-term product and technology strategy. Jeff Naughton Joins Snowflake
• Positive Sentiment: An investor letter highlighted Snowflake’s ability to benefit as businesses deploy AI across enterprise data workloads, reinforcing the bull case that AI adoption can drive usage and demand. Snowflake Capitalizing on AI Demand
• Neutral Sentiment: Snowflake remained a heavily followed and “trending” stock, but the coverage largely reiterated previously known fundamentals rather than introducing a new business catalyst. Snowflake Is a Trending Stock
• Negative Sentiment: Valuation concerns likely pressured the shares after a substantial year-to-date rally. Analysts noted that investor expectations have risen faster than earnings, while Snowflake remains GAAP-unprofitable and trades at a demanding valuation. Expectations Are Soaring Faster Than Earnings
• Negative Sentiment: Snowflake declined more than the broader market during the latest session, suggesting profit-taking and sensitivity to high-growth technology valuations. Broader questions about AI spending and OpenAI’s lower-than-expected revenue run rate may also have increased caution around AI-related stocks. Snowflake Sees a More Significant Dip Than the Broader Market

About Snowflake

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.