Snowflake (NYSE:SNOW) Earns Hold Rating from Analysts at Argus

Argus started coverage on shares of Snowflake (NYSE:SNOW) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating on the stock.

A number of other equities research analysts have also weighed in on SNOW. Citigroup reduced their target price on shares of Snowflake from $236.00 to $200.00 and set a buy rating on the stock in a report on Tuesday, August 20th. Piper Sandler reaffirmed an overweight rating and issued a $165.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Wells Fargo & Company reduced their price objective on shares of Snowflake from $130.00 to $125.00 and set an equal weight rating on the stock in a research note on Thursday, August 22nd. Canaccord Genuity Group reduced their price objective on shares of Snowflake from $215.00 to $190.00 and set a buy rating on the stock in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada reduced their price objective on shares of Snowflake from $226.00 to $183.00 and set an outperform rating on the stock in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $174.74.

Snowflake Trading Up 0.7 %

Shares of NYSE:SNOW opened at $110.47 on Tuesday. The firm has a 50 day moving average of $117.40 and a 200-day moving average of $136.38. The stock has a market capitalization of $36.99 billion, a PE ratio of -39.45 and a beta of 0.83. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.52) EPS. On average, research analysts predict that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares in the company, valued at approximately $86,252,760. The disclosure for this sale can be found here. In the last three months, insiders sold 29,538 shares of company stock valued at $3,449,994. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

Hedge funds have recently made changes to their positions in the stock. Accent Capital Management LLC purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $25,000. LRI Investments LLC bought a new position in Snowflake during the first quarter valued at approximately $29,000. Riverview Trust Co bought a new position in Snowflake during the first quarter valued at approximately $31,000. Future Financial Wealth Managment LLC bought a new position in Snowflake during the first quarter valued at approximately $32,000. Finally, Wellington Shields Capital Management LLC bought a new position in Snowflake during the second quarter valued at approximately $27,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Company Profile

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.