Snowflake Inc. (NYSE:SNOW) Stock Has Average Target Price of $413.87

Snowflake Inc. (NYSE:SNOW) has been assigned a consensus rating of “Moderate Buy” from the forty-two brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirty-six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $413.87.

A number of equities research analysts have recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $450.00 price target (up from $320.00) on shares of Snowflake in a research note on Thursday, September 3rd. Phillip Securities cut shares of Snowflake from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, October 12th. BTIG Research raised their price objective on shares of Snowflake from $340.00 to $424.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Cantor Fitzgerald lifted their target price on Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, Argus boosted their price target on shares of Snowflake from $300.00 to $450.00 and gave the company a “buy” rating in a report on Friday, September 4th.

Insider Buying and Selling

In other news, Director Frank Slootman sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the completion of the sale, the director owned 19,024 shares of the company’s stock, valued at approximately $6,019,764.32. This trade represents a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of Snowflake stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total value of $253,951.80. Following the completion of the transaction, the executive owned 211,619 shares of the company’s stock, valued at approximately $71,180,166.84. The trade was a 0.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,186,443 shares of company stock valued at $387,734,752. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Large investors have recently modified their holdings of the stock. Silicon Valley Capital Partners raised its holdings in Snowflake by 15.2% in the second quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock worth $15,801,000 after purchasing an additional 8,208 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Snowflake during the second quarter worth about $1,399,000. Swiss National Bank grew its stake in shares of Snowflake by 7.1% during the 1st quarter. Swiss National Bank now owns 944,600 shares of the company’s stock worth $142,465,000 after acquiring an additional 62,600 shares in the last quarter. National Pension Service grew its position in Snowflake by 3.3% in the second quarter. National Pension Service now owns 690,349 shares of the company’s stock valued at $175,694,000 after purchasing an additional 21,915 shares in the last quarter. Finally, Ameritas Advisory Services LLC increased its position in shares of Snowflake by 439.9% in the second quarter. Ameritas Advisory Services LLC now owns 7,181 shares of the company’s stock valued at $1,828,000 after acquiring an additional 5,851 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Down 2.7%

Shares of SNOW traded down $8.09 during mid-day trading on Friday, reaching $290.61. The company’s stock had a trading volume of 2,931,762 shares, compared to its average volume of 4,594,023. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake has a 1 year low of $118.30 and a 1 year high of $384.56. The business has a fifty day moving average of $324.69 and a 200 day moving average of $243.79. The company has a market cap of $102.53 billion, a price-to-earnings ratio of -91.39 and a beta of 1.32.

Snowflake (NYSE:SNOW) last issued its earnings results 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. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, analysts forecast that Snowflake will post -1.42 earnings per share for the current fiscal year.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.