Snowflake’s (SNOW) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Snowflake (NYSE:SNOW) in a research report released on Monday, Benzinga reports. The firm currently has a $210.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on SNOW. KeyCorp upped their target price on Snowflake from $185.00 to $200.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. The Goldman Sachs Group reaffirmed a buy rating and issued a $220.00 target price on shares of Snowflake in a report on Monday, July 1st. Wells Fargo & Company decreased their price target on Snowflake from $225.00 to $200.00 and set an overweight rating for the company in a research note on Friday, June 21st. UBS Group increased their price target on Snowflake from $185.00 to $190.00 and gave the company a neutral rating in a research note on Thursday, May 23rd. Finally, Stifel Nicolaus decreased their price target on Snowflake from $220.00 to $200.00 and set a buy rating for the company in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $199.46.

Snowflake Stock Up 0.0 %

Shares of SNOW stock opened at $137.49 on Monday. Snowflake has a twelve month low of $122.60 and a twelve month high of $237.72. The business has a fifty day simple moving average of $143.67 and a 200 day simple moving average of $170.07. The company has a market cap of $46.03 billion, a P/E ratio of -49.10 and a beta of 0.85.

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

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the transaction, the executive now owns 354,954 shares in the company, valued at $55,571,598.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value 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. Over the last quarter, insiders have sold 534,960 shares of company stock worth $67,198,020. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Cigna Investments Inc. New lifted its holdings in shares of Snowflake by 1.6% in the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after purchasing an additional 51 shares in the last quarter. E&G Advisors LP increased its position in shares of Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after acquiring an additional 51 shares during the last quarter. Commerce Bank increased its position in shares of Snowflake by 0.8% during the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after acquiring an additional 51 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after acquiring an additional 53 shares during the last quarter. Institutional investors 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.