Snowflake (NYSE:SNOW) Shares Up 1.2% – Still a Buy?

Snowflake Inc. (NYSE:SNOW) rose 1.2% during trading on Monday . The stock traded as high as $183.11 and last traded at $182.6280. Approximately 4,786,117 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 6,542,755 shares. The stock had previously closed at $180.48.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake-backed AI research and customer adoption data present a constructive growth narrative—reports with Omdia/Informa and separate healthcare research cite positive ROI from generative AI projects, net job creation, and strong enterprise demand for interoperability, supporting revenue and long?term AI tailwinds. Read More.
• Positive Sentiment: Analyst and feature coverage is increasingly bullish in places, highlighting 30% revenue growth, improving product?led momentum (Cortex, Snowflake Intelligence) and upgraded buy cases — these narratives can drive renewed investor interest and multiple expansion. Read More.
• Neutral Sentiment: Fundamentals: Snowflake beat Q4 revenue and EPS estimates in late February and continues strong y/y revenue growth (~30%), but remains unprofitable on GAAP margins—this sets up a higher?volatility, growth?at?scale investment profile. Read More.
• Negative Sentiment: Multiple securities class?action lawsuits and law?firm investor notices were filed/announced this week (class period cited June 27, 2023–Feb 28, 2024). Litigation raises the prospect of legal costs, management distraction and headline risk that can pressure the stock and valuation multiple. Read More.
• Negative Sentiment: Insider selling: Director Michael Speiser disclosed a large sale (~50,338 shares at ~$175), significantly reducing his stake. Substantial insider sales can be perceived negatively even if for personal liquidity, and may weigh on sentiment near term. Read More.

Analyst Ratings Changes

Several analysts have weighed in on SNOW shares. Royal Bank Of Canada set a $245.00 target price on Snowflake in a research note on Wednesday, February 11th. Sanford C. Bernstein cut their price objective on Snowflake from $237.00 to $195.00 and set a “market perform” rating on the stock in a report on Thursday, February 26th. KeyCorp decreased their target price on shares of Snowflake from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Wedbush restated an “outperform” rating and set a $270.00 price target on shares of Snowflake in a report on Thursday, December 4th. Finally, The Goldman Sachs Group decreased their price objective on shares of Snowflake from $286.00 to $246.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $248.58.

Snowflake Stock Performance

The firm’s fifty day moving average is $192.07 and its 200 day moving average is $221.90. The firm has a market capitalization of $61.36 billion, a price-to-earnings ratio of -45.39 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 48.50%. The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $175.19, for a total value of $70,601.57. Following the transaction, the director owned 23,315 shares in the company, valued at $4,084,554.85. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $165.01, for a total value of $1,650,100.00. Following the completion of the transaction, the executive vice president directly owned 510,477 shares in the company, valued at approximately $84,233,809.77. The trade was a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 711,140 shares of company stock worth $144,037,791. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently made changes to their positions in the company. Total Clarity Wealth Management Inc. lifted its stake in Snowflake by 2.7% in the third quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock valued at $340,000 after acquiring an additional 40 shares during the last quarter. Diligent Investors LLC increased its stake in shares of Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after purchasing an additional 40 shares during the last quarter. Coastline Trust Co raised its holdings in shares of Snowflake by 1.0% during the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock valued at $943,000 after purchasing an additional 42 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of Snowflake by 1.3% in the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after purchasing an additional 48 shares during the last quarter. Finally, CX Institutional lifted its stake in shares of Snowflake by 13.2% in the 3rd quarter. CX Institutional now owns 421 shares of the company’s stock valued at $95,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.