In yesterday’s Wall Street session, Snowflake Inc (NYSE:SNOW) shares traded at $150.25, down -1.13% from the previous session.
44 analysts cover Snowflake Inc (NYSE:SNOW), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $600.00 and a low of $105.00, we find $195.00. Given the previous closing price of $151.96, this indicates a potential upside of 28.32 percent. SNOW stock price is now -4.59% away from the 50-day moving average and -3.95% away from the 200-day moving average. The market capitalization of the company currently stands at $49.54B.
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The stock has received a hold rating from 13 analysts and a buy rating from 25. Brokers who have rated the stock have averaged $198.98 as their price target over the next twelve months.
With the price target of $201, HSBC Securities recently initiated with Buy rating for Snowflake Inc (NYSE: SNOW).
In other news, Slootman Frank, CEO and Chairman sold 4,167 shares of the company’s stock on Sep 28. The stock was sold for $627,228 at an average price of $150.52. Upon completion of the transaction, the CEO and Chairman now directly owns 182,913 shares in the company, valued at $27.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 27, CEO and Chairman Slootman Frank sold 4,167 shares of the business’s stock. A total of $615,861 was realized by selling the stock at an average price of $147.79. This leaves the insider owning 182,913 shares of the company worth $27.48 million. Insiders disposed of 1,839,818 shares of company stock worth roughly $276.43 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 $71,693,000. JACOBS LEVY EQUITY MANAGEMENT, INC invested $58,575,000 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 $45,437,000. CLOUDALPHA CAPITAL MANAGEMENT LIMITED/HONG KONG acquired a new stake in SNOW for approximately $34,257,000. ALTA PARK CAPITAL, LP purchased a new stake in SNOW valued at around $33,767,000 in the second quarter. In total, there are 1,270 active investors with 59.79% ownership of the company’s stock.
On Thursday morning Snowflake Inc (NYSE: SNOW) stock kicked off with the opening price of $154.05. 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 $157.09 and a two-hundred day moving average price translates $156.47 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 $712.89M 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.
