Snowflake (NYSE:SNOW) Posts Earnings Results, Misses Expectations By $1.07 EPS

Snowflake (NYSE:SNOW) issued its quarterly earnings results on Wednesday. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.07), Zacks reports. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $2.00 during midday trading on Wednesday, reaching $166.20. The company had a trading volume of 12,689,258 shares, compared to its average volume of 5,464,246. The stock has a market cap of $54.86 billion, a P/E ratio of -49.03 and a beta of 1.07. The company’s 50 day moving average price is $172.71 and its 200 day moving average price is $144.79. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 52-week low of $107.13 and a 52-week high of $235.66.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Canaccord Genuity Group upped their target price on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Rosenblatt Securities lifted their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Monness Crespi & Hardt upped their target price on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.19.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, the director now owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,810 shares of company stock worth $63,340,544. Insiders own 7.80% of the company’s stock.

About Snowflake

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.