Snowflake (NYSE:SNOW) Lifted to “Hold” at StockNews.com

Snowflake (NYSE:SNOW) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other research analysts have also commented on the stock. KeyCorp started coverage on shares of Snowflake in a research note on Thursday, April 11th. They set an “overweight” rating and a $185.00 price objective on the stock. Truist Financial reduced their price objective 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. Stifel Nicolaus dropped their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Citigroup cut their price objective on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. decreased their price target on Snowflake from $200.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Stock Performance

Shares of SNOW opened at $156.02 on Tuesday. Snowflake has a 1 year low of $138.40 and a 1 year high of $237.72. The company has a market cap of $52.14 billion, a price-to-earnings ratio of -61.18 and a beta of 0.91. The firm has a fifty day moving average of $165.95 and a 200-day moving average of $178.97.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Analysts predict that Snowflake will post -1.9 EPS for the current year.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction 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 approximately $8,627,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders sold 155,676 shares of company stock valued at $31,784,491 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently made changes to their positions in the business. Accent Capital Management LLC acquired a new position in shares of Snowflake during the fourth quarter worth approximately $25,000. FinTrust Capital Advisors LLC grew its position in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Riverview Trust Co bought a new position in Snowflake during the first quarter valued at about $31,000. Provence Wealth Management Group acquired a new position in Snowflake in the 3rd quarter valued at approximately $30,000. Finally, M&R Capital Management Inc. raised its stake in shares of Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.