Stocks of Snowflake Inc (NYSE:SNOW) traded higher last session on Wall Street, up 2.44% to $151.12.
According to the data, Snowflake Inc (NYSE:SNOW) has 44 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. SNOW stock price is now -5.67% away from the 50-day moving average and -3.34% away from the 200-day moving average. The market capitalization of the company currently stands at $49.82B.
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A total of 13 analysts have issued a hold rating and 25 have given it a buy rating.
With the price target of $201, HSBC Securities recently initiated with Buy rating for Snowflake Inc (NYSE: SNOW).
In other news, Kleinerman Christian, SVP, Product Management sold 1,500 shares of the company’s stock on Sep 14. The stock was sold for $249,000 at an average price of $166.00. Upon completion of the transaction, the SVP, Product Management now directly owns 661,789 shares in the company, valued at $100.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 13, CEO and Chairman Slootman Frank sold 8,334 shares of the business’s stock. A total of $1,378,001 was realized by selling the stock at an average price of $165.35. This leaves the insider owning 182,913 shares of the company worth $27.64 million. Insiders disposed of 1,723,773 shares of company stock worth roughly $260.5 million over the past 1 year. A total of 9.08% 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 MARSHALL WACE, LLP during the first quarter worth $72,108,000. JACOBS LEVY EQUITY MANAGEMENT, INC invested $58,914,000 in shares of SNOW during the first quarter. In the first quarter, LAURION CAPITAL MANAGEMENT LP acquired a new stake in Snowflake Inc valued at approximately $45,700,000. CLOUDALPHA CAPITAL MANAGEMENT LIMITED/HONG KONG acquired a new stake in SNOW for approximately $34,455,000. ALTA PARK CAPITAL, LP purchased a new stake in SNOW valued at around $33,963,000 in the second quarter. In total, there are 1,270 active investors with 59.80% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $145.52 for Snowflake Inc (NYSE: SNOW). During the past 12 months, Snowflake Inc has had a low of $119.27 and a high of $193.94. As of last week, the company has a debt-to-equity ratio of 0.06, a current ratio of 2.26, and a quick ratio of 2.26. The fifty day moving average price for SNOW is $160.20 and a two-hundred day moving average price translates $156.34 for the stock.
The latest earnings results from Snowflake Inc (NYSE: SNOW) was released for Jul, 2023. According to the Software – Application Company, earnings per share came in at $0.22, beating analysts’ expectations of $0.1 by 0.12. This compares to -$0.70 EPS in the same period last year. The net profit margin was -35.22% and return on equity was -16.07% for SNOW. The company reported revenue of $674.02 million for the quarter, compared to $497.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.55 percent. For the current quarter, analysts expect SNOW to generate $712.83M 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.
