Snowflake (NYSE:SNOW) Rating Reiterated by Oppenheimer

Oppenheimer restated their outperform rating on shares of Snowflake (NYSE:SNOW) in a research note released on Thursday morning, Benzinga reports. They currently have a $220.00 target price on the stock.

Several other analysts also recently weighed in on the stock. Truist Financial lowered their price target on shares of Snowflake from $250.00 to $210.00 and set a buy rating for the company in a research note on Thursday, February 29th. HSBC restated a reduce rating on shares of Snowflake in a report on Thursday, February 29th. Citigroup decreased their price target on Snowflake from $290.00 to $240.00 and set a buy rating on the stock in a research note on Monday, March 4th. Monness Crespi & Hardt upgraded Snowflake from a sell rating to a neutral rating in a research report on Monday, March 18th. Finally, UBS Group raised their target price on shares of Snowflake from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Trading Up 1.0 %

Shares of Snowflake stock opened at $156.16 on Thursday. The business’s 50-day moving average price is $157.03 and its 200-day moving average price is $180.31. The firm has a market capitalization of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90. Snowflake has a 12 month low of $138.40 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. As a group, analysts predict that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark D. Mclaughlin purchased 3,030 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $165.45 per share, for a total transaction of $501,313.50. Following the purchase, the director now directly owns 11,687 shares in the company, valued at approximately $1,933,614.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark D. Mclaughlin purchased 3,030 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $165.45 per share, with a total value of $501,313.50. Following the purchase, the director now directly owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The disclosure for this purchase can be found here. Insiders sold 62,380 shares of company stock worth $9,803,625 over the last three months. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Accent Capital Management LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at about $25,000. LRI Investments LLC bought a new position in Snowflake during the first quarter valued at approximately $29,000. Provence Wealth Management Group purchased a new stake in Snowflake in the third quarter worth approximately $30,000. Global Wealth Management Investment Advisory Inc. grew its position in Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Riverview Trust Co purchased a new stake in Snowflake during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 65.10% 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.