Snowflake (NYSE:SNOW) Stock Keeps “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Snowflake (NYSE:SNOW) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $450.00 price objective on the stock.

Several other research analysts have also recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $450.00 target price (up from $320.00) on shares of Snowflake in a report on Thursday, September 3rd. Stifel Nicolaus lifted their target price on shares of Snowflake from $350.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Mizuho set a $425.00 price target on shares of Snowflake in a report on Thursday, September 3rd. Barclays upped their price target on shares of Snowflake from $332.00 to $384.00 and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. Finally, Canaccord Genuity Group upped their price target on shares of Snowflake from $325.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $414.24.

Snowflake Trading Down 2.5%

NYSE:SNOW opened at $359.85 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake has a 1-year low of $118.30 and a 1-year high of $384.56. The firm has a market capitalization of $126.95 billion, a price-to-earnings ratio of -113.16 and a beta of 1.35. The stock has a fifty day simple moving average of $332.25 and a 200 day simple moving average of $250.65.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. Snowflake’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Sell-side analysts forecast that Snowflake will post -1.46 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, CRO Jonathan Beaulier sold 755 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total value of $253,951.80. Following the completion of the sale, the executive directly owned 211,619 shares of the company’s stock, valued at $71,180,166.84. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Emily Ho sold 768 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was 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 of the company’s stock, valued at $13,303,216.94. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 1,246,429 shares of company stock worth $396,227,952. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its stake in shares of Snowflake by 20.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,452,425 shares of the company’s stock worth $537,907,000 after acquiring an additional 415,951 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Snowflake by 44.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after acquiring an additional 803,110 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Snowflake during the fourth quarter worth $345,619,000. Swedbank AB boosted its position in Snowflake by 24.0% during the first quarter. Swedbank AB now owns 1,649,771 shares of the company’s stock valued at $248,818,000 after purchasing an additional 319,356 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its position in Snowflake by 3.5% during the fourth quarter. Gotham Asset Management LLC now owns 990,125 shares of the company’s stock valued at $217,194,000 after purchasing an additional 33,586 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Needham reaffirmed its Buy rating and maintained a $450 price target, implying meaningful upside from recent trading levels. Snowflake’s Buy Rating Reaffirmed at Needham
• Positive Sentiment: Snowflake appointed database researcher Jeff Naughton as a Technical Fellow. His work will focus on data systems for AI agents and changing enterprise workloads, supporting the company’s long-term product and technology strategy. Jeff Naughton Joins Snowflake
• Positive Sentiment: An investor letter highlighted Snowflake’s ability to benefit as businesses deploy AI across enterprise data workloads, reinforcing the bull case that AI adoption can drive usage and demand. Snowflake Capitalizing on AI Demand
• Neutral Sentiment: Snowflake remained a heavily followed and “trending” stock, but the coverage largely reiterated previously known fundamentals rather than introducing a new business catalyst. Snowflake Is a Trending Stock
• Negative Sentiment: Valuation concerns likely pressured the shares after a substantial year-to-date rally. Analysts noted that investor expectations have risen faster than earnings, while Snowflake remains GAAP-unprofitable and trades at a demanding valuation. Expectations Are Soaring Faster Than Earnings
• Negative Sentiment: Snowflake declined more than the broader market during the latest session, suggesting profit-taking and sensitivity to high-growth technology valuations. Broader questions about AI spending and OpenAI’s lower-than-expected revenue run rate may also have increased caution around AI-related stocks. Snowflake Sees a More Significant Dip Than the Broader Market

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.