Snowflake (NYSE:SNOW) Upgraded at StockNews.com

StockNews.com upgraded shares of Snowflake (NYSE:SNOW) from a sell rating to a hold rating in a report released on Tuesday morning.

SNOW has been the subject of a number of other reports. Argus initiated coverage on Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating for the company. Citigroup cut their price objective on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. DA Davidson reiterated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Wednesday, October 2nd. Finally, Bank of America cut their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.09.

Snowflake Stock Down 1.2 %

NYSE:SNOW opened at $129.19 on Tuesday. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The firm’s 50-day simple moving average is $116.03 and its 200 day simple moving average is $128.90.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period last year, the firm earned ($0.52) earnings per share. Research analysts expect that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 287 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 over the last three months. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SNOW. Covestor Ltd raised its holdings in shares of Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the period. Modus Advisors LLC boosted its holdings in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after acquiring an additional 94 shares in the last quarter. Catalyst Private Wealth LLC grew its stake in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after acquiring an additional 104 shares during the period. Iron Gate Global Advisors LLC increased its holdings in shares of Snowflake by 0.9% during the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after acquiring an additional 105 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after acquiring an additional 108 shares in the last quarter. 65.10% of the stock is 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.