Oppenheimer Reaffirms Outperform Rating for Snowflake (NYSE:SNOW)

Oppenheimer reaffirmed their outperform rating on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a $220.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the stock. Mizuho reiterated a buy rating and set a $205.00 price objective (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Evercore ISI reduced their price target on shares of Snowflake from $250.00 to $225.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. Citigroup lowered their price objective on shares of Snowflake from $290.00 to $240.00 and set a buy rating for the company in a research report on Monday, March 4th. UBS Group raised their target price on Snowflake from $185.00 to $190.00 and gave the company a neutral rating in a report on Thursday. Finally, HSBC reiterated a reduce rating on shares of Snowflake in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $200.64.

Snowflake Trading Up 1.0 %

Shares of SNOW stock opened at $156.16 on Thursday. The stock has a market cap of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. Snowflake has a 1 year low of $138.40 and a 1 year high of $237.72. The stock has a 50 day simple moving average of $157.03 and a 200 day simple moving average of $180.31.

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

Insider Activity

In other news, CEO Sridhar Ramaswamy bought 31,542 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the purchase, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sridhar Ramaswamy bought 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at $5,000,037.84. The disclosure for this purchase can be found here. In the last three months, insiders have sold 62,380 shares of company stock valued at $9,803,625. 8.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. acquired a new stake in shares of Snowflake in the 4th quarter valued at about $790,000. Sequoia Financial Advisors LLC grew its stake in Snowflake by 209.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after acquiring an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Snowflake in the third quarter valued at approximately $458,000. Meridian Wealth Management LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $288,000. Finally, Glynn Capital Management LLC raised its position in shares of Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares during the period. 65.10% of the stock is owned by institutional investors.

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.