Snowflake (NYSE:SNOW) Raised to Neutral at Guggenheim

Guggenheim upgraded shares of Snowflake (NYSE:SNOWFree Report) from a sell rating to a neutral rating in a research report report published on Friday, MarketBeat reports.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley reissued an equal weight rating and set a $175.00 target price (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Truist Financial cut their price target on shares of Snowflake from $250.00 to $210.00 and set a buy rating for the company in a research report on Thursday, February 29th. Scotiabank upped their price objective on shares of Snowflake from $194.00 to $226.00 and gave the company a sector outperform rating in a research note on Thursday, November 30th. Mizuho reissued a buy rating and issued a $205.00 price target (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, JMP Securities raised their target price on shares of Snowflake from $212.00 to $235.00 and gave the company a market outperform rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of Moderate Buy and an average price target of $204.85.

Read Our Latest Analysis on SNOW

Snowflake Price Performance

Shares of SNOW opened at $156.97 on Friday. The stock has a 50-day moving average of $201.42 and a 200-day moving average of $179.59. The company has a market cap of $51.69 billion, a PE ratio of -61.56 and a beta of 0.94. Snowflake has a one year low of $131.62 and a one year high of $237.72.

Snowflake (NYSE:SNOWGet Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.80% and a negative net margin of 29.79%. Analysts expect that Snowflake will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 390,440 shares of company stock valued at $80,383,938. Corporate insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. PNC Financial Services Group Inc. raised its position in Snowflake by 79.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock valued at $984,000 after purchasing an additional 1,897 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Snowflake in the 1st quarter valued at about $2,880,000. Panagora Asset Management Inc. grew its stake in Snowflake by 24.8% in the 1st quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock valued at $623,000 after acquiring an additional 540 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Snowflake during the 1st quarter worth about $362,000. Finally, Cibc World Market Inc. lifted its holdings in shares of Snowflake by 37.2% during the 1st quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock worth $3,198,000 after acquiring an additional 3,783 shares during the period. Institutional investors and hedge funds own 63.74% of the company’s stock.

About Snowflake

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Snowflake (NYSE:SNOW)

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