Oppenheimer reissued their outperform rating on shares of Snowflake (NYSE:SNOW – Free Report) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $220.00 target price on the stock.
A number of other equities research analysts also recently issued reports on SNOW. StockNews.com assumed coverage on shares of Snowflake in a research report on Thursday, August 17th. They issued a sell rating for the company. Needham & Company LLC reiterated a buy rating and set a $216.00 price objective on shares of Snowflake in a research note on Tuesday. William Blair assumed coverage on Snowflake in a research report on Wednesday, June 28th. They issued an outperform rating on the stock. Piper Sandler dropped their price objective on shares of Snowflake from $210.00 to $205.00 and set an overweight rating for the company in a report on Thursday. Finally, UBS Group decreased their price target on shares of Snowflake from $170.00 to $155.00 in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $191.32.
Read Our Latest Stock Analysis on SNOW
Snowflake Stock Down 5.2 %
Snowflake (NYSE:SNOW – Get Free Report) last released its quarterly earnings results on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.12. Snowflake had a negative net margin of 35.22% and a negative return on equity of 14.01%. The firm had revenue of $674.00 million during the quarter, compared to analyst estimates of $662.22 million. During the same quarter last year, the business earned ($0.67) EPS. The company’s revenue was up 35.6% compared to the same quarter last year. As a group, sell-side analysts predict that Snowflake will post -1.48 EPS for the current year.
Insider Transactions at Snowflake
In other Snowflake news, Director Teresa Briggs sold 1,109 shares of Snowflake stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $170.25, for a total transaction of $188,807.25. Following the sale, the director now directly owns 2,803 shares of the company’s stock, valued at $477,210.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $174.31, for a total transaction of $97,264.98. Following the transaction, the insider now directly owns 41,955 shares in the company, valued at $7,313,176.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 1,109 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $170.25, for a total transaction of $188,807.25. Following the sale, the director now owns 2,803 shares of the company’s stock, valued at $477,210.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 634,791 shares of company stock worth $112,514,182. 8.30% of the stock is owned by corporate insiders.
Institutional Trading of Snowflake
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BerganKDV Wealth Management LLC grew its stake in shares of Snowflake by 153.7% in the first quarter. BerganKDV Wealth Management LLC now owns 170 shares of the company’s stock worth $26,000 after purchasing an additional 103 shares during the last quarter. Global Trust Asset Management LLC grew its stake in Snowflake by 7,500.0% in the second quarter. Global Trust Asset Management LLC now owns 152 shares of the company’s stock valued at $27,000 after acquiring an additional 150 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. M&R Capital Management Inc. boosted its position in shares of Snowflake by 100.0% during the first quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Finally, VitalStone Financial LLC boosted its position in shares of Snowflake by 616.0% during the second quarter. VitalStone Financial LLC now owns 179 shares of the company’s stock valued at $32,000 after buying an additional 154 shares during the last quarter. Institutional investors own 63.55% of the company’s stock.
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.
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