Needham & Company LLC Reaffirms “Buy” Rating for Snowflake (NYSE:SNOW)

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They currently have a $450.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 30.84% from the company’s previous close.

A number of other research firms have also weighed in on SNOW. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Jefferies Financial Group set a $430.00 price target on Snowflake and gave the company a “buy” rating in a report on Thursday, September 3rd. Wells Fargo & Company upped their price target on Snowflake from $500.00 to $525.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Mizuho set a $425.00 price target on Snowflake in a report on Thursday, September 3rd. Finally, Stifel Nicolaus upped their price target on Snowflake from $350.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Thirty-five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $414.24.

Snowflake Stock Down 3.9%

NYSE:SNOW traded down $13.84 on Monday, reaching $343.92. 863,724 shares of the stock traded hands, compared to its average volume of 6,476,219. The company has a market capitalization of $121.34 billion, a price-to-earnings ratio of -108.29 and a beta of 1.35. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake has a 12 month low of $118.30 and a 12 month high of $384.56. The company’s fifty day simple moving average is $333.03 and its 200 day simple moving average is $252.04.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. Snowflake’s revenue was up 35.1% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. Equities analysts predict that Snowflake will post -1.46 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 768 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $332.93, for a total transaction of $255,690.24. Following the completion of the sale, the chief accounting officer directly owned 39,958 shares in the company, valued at approximately $13,303,216.94. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Beaulier sold 755 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total transaction of $253,951.80. Following the sale, the executive owned 211,619 shares of the company’s stock, valued at $71,180,166.84. This trade represents a 0.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,246,429 shares of company stock valued at $396,227,952 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently added to or reduced their stakes in SNOW. Basecamp Wealth Advisors LLC increased its stake in Snowflake by 140.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after buying an additional 118 shares during the period. Emerald Advisers LLC increased its stake in Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock worth $31,000 after buying an additional 100 shares during the period. MV Capital Management Inc. purchased a new position in Snowflake in the 4th quarter worth about $32,000. Copos Capital S.a r.l. purchased a new position in Snowflake in the 4th quarter worth about $35,000. Finally, Global Assets Advisory LLC purchased a new position in Snowflake in the 1st quarter worth about $37,000. 65.10% of the stock is currently owned by institutional investors.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake expanded its AI and automation ecosystem through a deeper two-way integration with UiPath, designed to keep enterprise data governed within Snowflake while enabling workflow automation and AI agents. The development could strengthen Snowflake’s data-platform moat and support additional workloads. Can Snowflake’s UiPath Integration Deepen Its Data Moat Or Blur Its AI Strategy?
• Positive Sentiment: New ecosystem and customer announcements highlighted continued adoption of Snowflake’s platform. ATTOM introduced Semantic Views for property data through Snowflake, Treasure AI received Snowflake Ready validation, and InsuranceMarket.ae selected Snowflake to build a trusted data foundation for customer experiences. These announcements support the company’s strategy of expanding data, AI and analytics use cases. ATTOM Introduces Semantic Views for Property Data in Snowflake Treasure AI Achieves Snowflake Ready Technology Validation
• Positive Sentiment: Snowflake’s chief data and AI officer said enterprises are moving AI projects from experimentation into production, with governance, security and trusted data becoming critical requirements. The comments reinforce the potential for Snowflake to benefit as companies consolidate AI workloads on managed data platforms. Snowflake’s Anahita Tafvizi on Scaling AI From Experiments to Production
• Neutral Sentiment: Snowflake appointed database scientist Jeff Naughton as a Technical Fellow, potentially strengthening its research and product development capabilities, although the immediate financial impact is unclear. Jeff Naughton Joins Snowflake
• Negative Sentiment: Valuation concerns are the clearest source of pressure. Analysts and commentators noted that SNOW has dramatically outperformed the broader market, while expectations are rising faster than earnings. Snowflake remains GAAP-unprofitable, and its valuation leaves less room for execution disappointments. Snowflake Stock Looks Fully Priced
• Negative Sentiment: Phillip Securities downgraded Snowflake from “strong buy” to “moderate buy,” adding to the cautious tone surrounding the stock after its extended rally. Snowflake Stock Bumped Down to Moderate Buy

About Snowflake

Snowflake Inc (NYSE: SNOW) provides a cloud-based data platform that enables organizations to store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and artificial intelligence workloads in a single environment.

Snowflake’s services include cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace.