Scotiabank Issues Optimistic Estimate for Snowflake Earnings

Snowflake Inc. (NYSE:SNOW) – Stock analysts at Scotiabank boosted their FY2025 earnings estimates for shares of Snowflake in a report released on Wednesday, January 8th. Scotiabank analyst P. Colville now forecasts that the company will post earnings of ($2.36) per share for the year, up from their previous forecast of ($2.38). Scotiabank currently has a “Sector Outperform” rating and a $220.00 target price on the stock. The consensus estimate for Snowflake’s current full-year earnings is ($2.36) per share.

A number of other equities analysts have also recently commented on the stock. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Monness Crespi & Hardt upped their price target on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $187.11.

Snowflake Trading Up 1.0 %

Snowflake stock opened at $162.65 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a 50-day simple moving average of $156.42 and a 200 day simple moving average of $133.87. The stock has a market capitalization of $53.69 billion, a P/E ratio of -47.98 and a beta of 1.05. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Insider Transactions at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now directly owns 311,999 shares in the company, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 376,904 shares of company stock worth $62,545,855. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently bought and sold shares of SNOW. State Street Corp grew its position in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC lifted its stake in shares of Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after buying an additional 138,663 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of 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 last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.