During the last three months, 31 analysts shared their evaluations of Snowflake SNOW, revealing diverse outlooks from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 12 | 10 | 8 | 0 | 1 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 1 |
| 2M Ago | 9 | 8 | 7 | 0 | 0 |
| 3M Ago | 2 | 2 | 1 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $217.68, a high estimate of $290.00, and a low estimate of $125.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 4.24%.
Analyzing Analyst Ratings: A Detailed Breakdown
The perception of Snowflake by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Blair Abernethy | Rosenblatt | Announces | Buy | $185.00 | - |
| Alex Haissl | Redburn Atlantic | Announces | Sell | $125.00 | - |
| Tyler Radke | Citigroup | Lowers | Buy | $240.00 | $290.00 |
| Raimo Lenschow | Barclays | Lowers | Equal-Weight | $188.00 | $198.00 |
| Blair Abernethy | Rosenblatt | Lowers | Neutral | $185.00 | $190.00 |
| Joe Goodwin | JMP Securities | Raises | Market Outperform | $235.00 | $212.00 |
| Kirk Materne | Evercore ISI Group | Lowers | Outperform | $225.00 | $250.00 |
| Brad Reback | Stifel | Lowers | Buy | $220.00 | $235.00 |
| Matthew Hedberg | RBC Capital | Lowers | Outperform | $246.00 | $255.00 |
| Mark Murphy | JP Morgan | Lowers | Overweight | $170.00 | $200.00 |
| Ittai Kidron | Oppenheimer | Lowers | Outperform | $220.00 | $240.00 |
| Frederick Havemeyer | Macquarie | Raises | Outperform | $205.00 | $182.00 |
| Kingsley Crane | Canaccord Genuity | Maintains | Buy | $230.00 | - |
| Bradley Sills | B of A Securities | Lowers | Neutral | $212.00 | $265.00 |
| Gregg Moskowitz | Mizuho | Lowers | Buy | $205.00 | $255.00 |
| Ki Bin Kim | Truist Securities | Lowers | Buy | $210.00 | $250.00 |
| Mike Cikos | Needham | Lowers | Buy | $240.00 | $265.00 |
| Keith Weiss | Morgan Stanley | Lowers | Equal-Weight | $175.00 | $230.00 |
| Brent Bracelin | Piper Sandler | Lowers | Overweight | $240.00 | $250.00 |
| Taz Koujalgi | Wedbush | Raises | Neutral | $210.00 | $144.00 |
| Brent Bracelin | Piper Sandler | Maintains | Overweight | $250.00 | $250.00 |
| Tyler Radke | Citigroup | Raises | Buy | $290.00 | $255.00 |
| Karl Keirstead | UBS | Raises | Neutral | $225.00 | $185.00 |
| Mike Cikos | Needham | Raises | Buy | $265.00 | $225.00 |
| Ki Bin Kim | Truist Securities | Raises | Buy | $250.00 | $230.00 |
| Stephen Bersey | HSBC | Announces | Hold | $214.00 | - |
| Simon Leopold | Raymond James | Raises | Outperform | $223.00 | $190.00 |
| Joe Goodwin | JMP Securities | Maintains | Market Outperform | $212.00 | - |
| Ki Bin Kim | Truist Securities | Raises | Buy | $230.00 | $210.00 |
| Raimo Lenschow | Barclays | Announces | Equal-Weight | $198.00 | - |
| Mike Cikos | Needham | Maintains | Buy | $225.00 | - |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Snowflake. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Snowflake compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Snowflake's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
For valuable insights into Snowflake's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Snowflake analyst ratings.
Discovering Snowflake: A Closer Look
Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers. Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to easily buy and ingest data almost instantaneously compared with a traditionally months-long process. Overall, the company is known for the fact that all of its data solutions that can be hosted on various public clouds.
Financial Insights: Snowflake
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Snowflake displayed positive results in 3 months. As of 31 January, 2024, the company achieved a solid revenue growth rate of approximately 31.53%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Net Margin: Snowflake's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -21.86%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -3.35%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Snowflake's ROA excels beyond industry benchmarks, reaching -2.19%. This signifies efficient management of assets and strong financial health.
Debt Management: Snowflake's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.06.
Understanding the Relevance of Analyst Ratings
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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