Investment analysts at Moffett Nathanson assumed coverage on shares of Snowflake (NYSE:SNOW – Get Rating) in a research note issued to investors on Thursday, The Fly reports. The firm set a "buy" rating and a $242.00 price target on the stock. Moffett Nathanson's price objective suggests a potential upside of 40.59% from the stock's current price.
A number of other equities research analysts have also weighed in on SNOW. Canaccord Genuity Group lifted their target price on shares of Snowflake from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 25th. JPMorgan Chase & Co. boosted their price objective on shares of Snowflake from $165.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, August 25th. The Goldman Sachs Group boosted their price objective on shares of Snowflake from $192.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, August 25th. Cowen boosted their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock an "outperform" rating in a research note on Thursday, August 25th. Finally, Jefferies Financial Group raised shares of Snowflake from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $125.00 to $200.00 in a research note on Tuesday, June 28th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $216.67.
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Shares of SNOW opened at $172.13 on Thursday. The firm's 50-day moving average price is $168.04 and its 200-day moving average price is $167.73. The firm has a market capitalization of $55.08 billion, a price-to-earnings ratio of -79.32 and a beta of 1.05. Snowflake has a 1-year low of $110.26 and a 1-year high of $405.00.
Snowflake (NYSE:SNOW – Get Rating) last announced its earnings results on Wednesday, August 24th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.16). The company had revenue of $497.25 million for the quarter, compared to the consensus estimate of $466.03 million. Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. On average, research analysts forecast that Snowflake will post -2 EPS for the current fiscal year.Insider Buying and Selling at Snowflake
In other Snowflake news, Director John Dennis Mcmahon sold 1,224 shares of the company's stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $155.44, for a total transaction of $190,258.56. Following the completion of the sale, the director now directly owns 55,659 shares of the company's stock, valued at $8,651,634.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director John Dennis Mcmahon sold 1,224 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $155.44, for a total value of $190,258.56. Following the completion of the sale, the director now directly owns 55,659 shares of the company's stock, valued at $8,651,634.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 724 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total transaction of $131,123.64. Following the completion of the sale, the insider now directly owns 15,512 shares of the company's stock, valued at $2,809,378.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,823 shares of company stock valued at $859,968. Insiders own 8.90% of the company's stock.
Institutional Trading of Snowflake
A number of hedge funds and other institutional investors have recently modified their holdings of SNOW. Brown Advisory Inc. boosted its position in shares of Snowflake by 2.6% during the second quarter. Brown Advisory Inc. now owns 36,819 shares of the company's stock worth $5,120,000 after acquiring an additional 929 shares during the last quarter. Amundi boosted its position in shares of Snowflake by 85.5% during the second quarter. Amundi now owns 169,525 shares of the company's stock worth $24,783,000 after acquiring an additional 78,141 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of Snowflake by 177.2% during the second quarter. Verition Fund Management LLC now owns 18,436 shares of the company's stock worth $2,564,000 after acquiring an additional 11,786 shares during the last quarter. Prelude Capital Management LLC boosted its position in shares of Snowflake by 127.5% during the second quarter. Prelude Capital Management LLC now owns 8,714 shares of the company's stock worth $1,212,000 after acquiring an additional 4,884 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Snowflake by 260.6% during the second quarter. Captrust Financial Advisors now owns 6,668 shares of the company's stock worth $927,000 after acquiring an additional 4,819 shares during the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.
Snowflake Company Profile
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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
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