Snowflake (NYSE:SNOW) Posts Quarterly Earnings Results, Misses Expectations By $1.07 EPS

Snowflake (NYSE:SNOW) released its earnings results on Wednesday. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.07), Zacks reports. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%.

Snowflake Stock Performance

SNOW stock traded up $2.00 during midday trading on Wednesday, reaching $166.20. 12,689,258 shares of the company were exchanged, compared to its average volume of 5,464,246. Snowflake has a one year low of $107.13 and a one year high of $235.66. The firm has a market capitalization of $54.86 billion, a price-to-earnings ratio of -49.03 and a beta of 1.07. The business has a 50-day moving average price of $172.71 and a two-hundred day moving average price of $144.79. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Snowflake from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada lifted their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler upped their target price on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Loop Capital lifted their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Monness Crespi & Hardt increased their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $196.19.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at $123,625,813. This represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,508 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at $7,303,489.20. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,810 shares of company stock valued at $63,340,544 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Snowflake Company Profile

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.