Snowflake’s (SNOW) “Buy” Rating Reaffirmed at The Goldman Sachs Group

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating reissued by research analysts at The Goldman Sachs Group in a research report issued on Monday, Benzinga reports. They presently have a $220.00 target price on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 55.05% from the stock’s previous close.

SNOW has been the topic of several other research reports. Sanford C. Bernstein upped their price target on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Loop Capital reduced their price target on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Macquarie reduced their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Oppenheimer reissued an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a research note on Thursday, May 23rd. Finally, Redburn Atlantic reissued a “sell” rating and set a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $199.46.

Snowflake Trading Down 0.6 %

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

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) 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. Analysts predict that Snowflake will post -2.28 EPS for the current year.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser purchased 76,200 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $131.09 per share, with a total value of $9,989,058.00. Following the acquisition, the director now owns 1,632,225 shares in the company, valued at $213,968,375.25. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Michael L. Speiser purchased 76,200 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $131.09 per share, with a total value of $9,989,058.00. Following the acquisition, the director now owns 1,632,225 shares in the company, valued at $213,968,375.25. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Benoit Dageville sold 558 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the transaction, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The disclosure for this sale can be found here. In the last three months, insiders sold 519,112 shares of company stock valued at $64,932,073. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Accent Capital Management LLC bought a new position in Snowflake during the 4th quarter valued at $25,000. LRI Investments LLC bought a new position in shares of Snowflake in the 1st quarter worth about $29,000. FinTrust Capital Advisors LLC lifted its position in shares of Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the last quarter. Riverview Trust Co bought a new stake in Snowflake in the 1st quarter valued at about $31,000. Finally, M&R Capital Management Inc. lifted its position in Snowflake by 100.0% in the 4th 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 during the last quarter. 65.10% of the stock is currently owned by 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.