Snowflake (NYSE:SNOW) Shares Gap Up – Here’s Why

Snowflake Inc. (NYSE:SNOW) shares gapped up before the market opened on Tuesday . The stock had previously closed at $164.24, but opened at $172.48. Snowflake shares last traded at $173.7270, with a volume of 3,366,988 shares traded.

Snowflake News Summary

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Citizens JMP reaffirmed its “market outperform” rating on Snowflake and kept a $325 price target, implying substantial upside versus recent trading levels. Benzinga
• Positive Sentiment: AVEVA announced a collaboration with Snowflake to help industrial customers unify IT and OT data and accelerate industrial AI, which could support future platform adoption and revenue growth. Yahoo Finance
• Positive Sentiment: Analyst coverage remains broadly constructive, with recent notes highlighting favorable checks ahead of results and multiple buy/outperform ratings, supporting the view that Wall Street still sees upside in Snowflake. MSN
• Neutral Sentiment: Snowflake is also being mentioned in broader AI-stock commentary and comparisons, which may keep investor attention on the name but does not appear to be a direct fundamental catalyst. Analytics Insight
• Negative Sentiment: Recent disclosure chatter around insider selling and heavy institutional trimming could temper enthusiasm, even though these moves do not necessarily reflect near-term operating weakness. Quiver Quantitative

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SNOW shares. Morgan Stanley decreased their target price on Snowflake from $270.00 to $245.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Sanford C. Bernstein dropped their price target on shares of Snowflake from $237.00 to $195.00 and set a “market perform” rating on the stock in a research report on Thursday, February 26th. Zacks Research raised Snowflake from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. The Goldman Sachs Group lowered their price objective on Snowflake from $286.00 to $246.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company decreased their price target on Snowflake from $290.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $242.19.

Snowflake Price Performance

The company has a market capitalization of $58.07 billion, a PE ratio of -42.58 and a beta of 1.08. The firm has a fifty day moving average of $154.76 and a two-hundred day moving average of $195.52. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.Snowflake’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. Research analysts anticipate that Snowflake Inc. will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 3,876 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total value of $592,252.80. Following the completion of the sale, the senior vice president owned 273,323 shares in the company, valued at approximately $41,763,754.40. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,621 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $170.01, for a total value of $445,596.21. Following the completion of the sale, the executive vice president owned 533,494 shares of the company’s stock, valued at approximately $90,699,314.94. This trade represents a 0.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 384,313 shares of company stock worth $64,308,373 over the last ninety days. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently made changes to their positions in SNOW. Total Clarity Wealth Management Inc. boosted its holdings in shares of Snowflake by 2.7% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock valued at $340,000 after buying an additional 40 shares in the last quarter. Diligent Investors LLC boosted its stake in Snowflake by 0.9% during the third quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after acquiring an additional 40 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Snowflake by 44.1% during the third quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock worth $36,000 after acquiring an additional 49 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Snowflake by 10.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock worth $120,000 after acquiring an additional 50 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its position in shares of Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.