Snowflake (NYSE:SNOW) Stock Rating Reaffirmed by The Goldman Sachs Group

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating reaffirmed by equities researchers at The Goldman Sachs Group in a note issued to investors on Monday, Benzinga reports. They currently have a $220.00 price objective on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 55.05% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Redburn Atlantic reaffirmed a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Barclays raised their price objective on Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, May 23rd. KeyCorp raised their price objective on Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Royal Bank of Canada decreased their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. Finally, Macquarie decreased their price objective on Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.46.

Snowflake Stock Down 0.6 %

NYSE:SNOW opened at $141.89 on Monday. The business’s 50-day moving average price is $145.46 and its two-hundred day moving average price is $172.25. Snowflake has a twelve month low of $122.60 and a twelve month high of $237.72. The stock has a market cap of $47.50 billion, a P/E ratio of -50.67 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The business had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. On average, equities research analysts expect that Snowflake will post -2.28 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser purchased 76,200 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average cost of $131.09 per share, for a total transaction of $9,989,058.00. Following the completion of the transaction, the director now directly owns 1,632,225 shares of the company’s stock, valued at approximately $213,968,375.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Michael L. Speiser bought 76,200 shares of the company’s stock in a transaction on Friday, June 7th. The shares were acquired at an average cost of $131.09 per share, with a total value of $9,989,058.00. Following the completion of the acquisition, the director now owns 1,632,225 shares of the company’s stock, valued at approximately $213,968,375.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 546 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total value of $70,608.72. Following the completion of the sale, the executive vice president now directly owns 756,489 shares in the company, valued at $97,829,157.48. The disclosure for this sale can be found here. Insiders have sold 519,112 shares of company stock worth $64,932,073 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC bought a new stake in Snowflake in the fourth quarter worth $25,000. LRI Investments LLC purchased a new position in shares of Snowflake in the first quarter worth $29,000. Riverview Trust Co purchased a new position in shares of Snowflake in the first quarter worth $31,000. Hartford Financial Management Inc. purchased a new position in shares of Snowflake in the first quarter worth $32,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Snowflake in the first quarter worth $32,000. 65.10% of the stock is owned by institutional investors.

About Snowflake

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.