Snowflake (SNOW) – Research Analysts’ Recent Ratings Changes

Snowflake (NYSE: SNOW) has recently received a number of price target changes and ratings updates:

  • 5/20/2024 – Snowflake had its price target lowered by analysts at Royal Bank of Canada from $246.00 to $220.00. They now have an “outperform” rating on the stock.
  • 5/17/2024 – Snowflake had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $235.00 price target on the stock.
  • 5/16/2024 – Snowflake was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 5/15/2024 – Snowflake had its price target lowered by analysts at Bank of America Co. from $212.00 to $200.00. They now have a “neutral” rating on the stock.
  • 5/8/2024 – Snowflake was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 5/2/2024 – Snowflake was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating. They now have a $200.00 price target on the stock.
  • 4/30/2024 – Snowflake was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 4/22/2024 – Snowflake was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 4/11/2024 – Snowflake is now covered by analysts at KeyCorp. They set an “overweight” rating and a $185.00 price target on the stock.
  • 4/5/2024 – Snowflake was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating. They now have a $185.00 price target on the stock.
  • 4/3/2024 – Snowflake was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 3/26/2024 – Snowflake was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Snowflake Stock Up 2.1 %

SNOW traded up $3.44 on Monday, reaching $165.30. 2,008,943 shares of the company traded hands, compared to its average volume of 5,998,721. The company has a market cap of $55.24 billion, a P/E ratio of -64.82 and a beta of 0.90. The firm has a fifty day simple moving average of $157.04 and a two-hundred day simple moving average of $180.14. Snowflake Inc. has a one year low of $138.40 and a one year high of $237.72.

Snowflake (NYSE:SNOWGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The business had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. On average, equities analysts forecast that Snowflake Inc. will post -1.83 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after purchasing an additional 297,428 shares in the last quarter. Jennison Associates LLC raised its holdings in Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after acquiring an additional 249,249 shares in the last quarter. FMR LLC lifted its stake in Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Sands Capital Management LLC raised its holdings in shares of Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after purchasing an additional 610,970 shares in the last quarter. Finally, Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at $838,455,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.

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