In yesterday’s Wall Street session, Snowflake Inc. (NYSE:SNOW) shares traded at $184.31, up 5.91% from the previous session.
As of this writing, 43 analysts cover Snowflake Inc. (NYSE:SNOW). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $500.00 and a low of $105.00, we find $180.00. Given the previous closing price of $174.02, this indicates a potential upside of 3.44 percent. SNOW stock price is now 25.45% away from the 50-day moving average and 18.81% away from the 200-day moving average. The market capitalization of the company currently stands at $60.86B.
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There are 12 analysts who have given it a hold rating, whereas 25 have given it a buy rating. Brokers who have rated the stock have averaged $185.27 as their price target over the next twelve months.
With the price target enhanced from $145 to $185, Stifel Upgraded its rating from Hold to Buy for Snowflake Inc. (NYSE: SNOW). On January 06, 2023, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $170, while ‘Wedbush’ rates the stock as ‘Neutral’.
In other news, Dageville Benoit, President of Products sold 13,182 shares of the company’s stock on May 10. The stock was sold for $2,185,707 at an average price of $165.81. Upon completion of the transaction, the President of Products now directly owns 43,063 shares in the company, valued at $7.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 08, Director McMahon John Dennis sold 1,000 shares of the business’s stock. A total of $160,270 was realized by selling the stock at an average price of $160.27. This leaves the insider owning 152,902 shares of the company worth $28.18 million. Insiders disposed of 807,529 shares of company stock worth roughly $148.84 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SNOW stock. A new stake in Snowflake Inc. shares was purchased by GQG PARTNERS LLC during the first quarter worth $372,021,000. VIKING GLOBAL INVESTORS LP invested $70,546,000 in shares of SNOW during the first quarter. In the first quarter, TRIVEST ADVISORS LTD acquired a new stake in Snowflake Inc. valued at approximately $43,313,000. VALUE STAR ASSET MANAGEMENT (HONG KONG) LTD acquired a new stake in SNOW for approximately $41,804,000. DODGE & COX purchased a new stake in SNOW valued at around $31,288,000 in the second quarter. In total, there are 1,250 active investors with 68.40% ownership of the company’s stock.
Thursday morning saw Snowflake Inc. (NYSE: SNOW) opened at $175.97. During the past 12 months, Snowflake Inc. has had a low of $110.26 and a high of $205.66. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.50, and a quick ratio of 2.50. The fifty day moving average price for SNOW is $147.76 and a two-hundred day moving average price translates $155.28 for the stock.
The latest earnings results from Snowflake Inc. (NYSE: SNOW) was released for Jan, 2023. According to the Software – Application Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.04 by 0.1. This compares to -$0.42 EPS in the same period last year. The net profit margin was -38.60% and return on equity was -14.70% for SNOW. The company reported revenue of $589.01 million for the quarter, compared to $383.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 53.48 percent. For the current quarter, analysts expect SNOW to generate $608.36M in revenue.
Snowflake Inc.(SNOW) 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. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is based in Bozeman, Montana.
