Snowflake (NYSE:SNOW) Receives Overweight Rating from Piper Sandler

Snowflake (NYSE:SNOWGet Free Report)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $240.00 target price on the stock. Piper Sandler’s price objective points to a potential upside of 46.98% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Evercore ISI reduced their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Rosenblatt Securities lifted their price target on Snowflake from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush reissued a “neutral” rating and issued a $210.00 price objective on shares of Snowflake in a report on Wednesday. Oppenheimer dropped their price objective on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.26.

Get Our Latest Report on Snowflake

Snowflake Trading Up 0.4 %

Shares of SNOW stock opened at $163.29 on Thursday. The stock has a 50 day moving average of $157.13 and a 200 day moving average of $180.26. The stock has a market cap of $54.57 billion, a P/E ratio of -64.04 and a beta of 0.90. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72.

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

Insider Buying and Selling

In other Snowflake news, Director Mark D. Mclaughlin acquired 3,030 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $165.45 per share, with a total value of $501,313.50. Following the transaction, the director now owns 11,687 shares in the company, valued at approximately $1,933,614.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Mark D. Mclaughlin bought 3,030 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $165.45 per share, with a total value of $501,313.50. Following the transaction, the director now directly owns 11,687 shares in the company, valued at $1,933,614.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The disclosure for this sale can be found here. Insiders sold 62,380 shares of company stock valued at $9,803,625 in the last three months. 8.30% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

Large investors have recently made changes to their positions in the company. Swedbank AB purchased a new stake in Snowflake during the 1st quarter valued at approximately $258,957,000. Sanibel Captiva Trust Company Inc. purchased a new stake in Snowflake during the 1st quarter valued at approximately $2,004,000. Arrow Financial Corp raised its stake in shares of Snowflake by 24.8% during the 1st quarter. Arrow Financial Corp now owns 7,604 shares of the company’s stock worth $1,229,000 after buying an additional 1,511 shares in the last quarter. Virtu Financial LLC raised its stake in shares of Snowflake by 668.8% during the 1st quarter. Virtu Financial LLC now owns 32,568 shares of the company’s stock worth $5,263,000 after buying an additional 28,332 shares in the last quarter. Finally, EMC Capital Management purchased a new position in shares of Snowflake during the 1st quarter worth approximately $63,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Company Profile

(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, as well as applies artificial intelligence (AI) for solving business problems.

Featured Stories

Analyst Recommendations for Snowflake (NYSE:SNOW)

Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.