Snowflake (SNOW) Scheduled to Post Quarterly Earnings on Wednesday

Snowflake (NYSE:SNOW) is scheduled to be announcing its earnings results after the market closes on Wednesday, November 20th. Analysts expect the company to announce earnings of $0.15 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter last year, the company posted ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, analysts expect Snowflake to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Snowflake Price Performance

SNOW opened at $125.51 on Wednesday. The stock has a market capitalization of $42.07 billion, a P/E ratio of -41.02 and a beta of 0.83. The company’s 50 day simple moving average is $115.33 and its 200-day simple moving average is $129.12. Snowflake has a one year low of $107.13 and a one year high of $237.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and lifted their target price for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Morgan Stanley reissued an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. KeyCorp reduced their target price on shares of Snowflake from $168.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday. Scotiabank dropped their price target on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $172.09.

Insider Buying and Selling at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,538 shares of company stock worth $7,061,544. Insiders own 7.80% 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.