Snowflake’s (SNOW) Outperform Rating Reiterated at Oppenheimer

Oppenheimer restated their outperform rating on shares of Snowflake (NYSE:SNOW) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $180.00 target price on the stock.

SNOW has been the topic of a number of other reports. Evercore ISI raised their price objective on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays lifted their price target on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday. Monness Crespi & Hardt increased their price objective on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank decreased their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Bank of America dropped their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Price Performance

NYSE:SNOW opened at $167.44 on Thursday. The company has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. The business has a 50 day moving average of $120.06 and a 200 day moving average of $128.00. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 33.02% and a negative return on equity of 22.01%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.52) EPS. As a group, sell-side analysts anticipate that Snowflake will post -2.41 EPS for the current year.

Insiders Place Their Bets

In other Snowflake news, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,538 shares of company stock valued at $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board grew its stake in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the period. Swedbank AB purchased a new position in shares of Snowflake in the first quarter worth approximately $258,957,000. Two Sigma Advisers LP grew its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares during the period. AQR Capital Management LLC increased its holdings in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after acquiring an additional 628,511 shares during the period. Institutional investors own 65.10% 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, as well as applies artificial intelligence (AI) for solving business problems.