24 analysts have expressed a variety of opinions on Snowflake SNOW over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 15 | 2 | 0 | 1 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 2 | 2 | 1 | 0 | 1 |
| 2M Ago | 0 | 2 | 0 | 0 | 0 |
| 3M Ago | 4 | 10 | 1 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $214.62, a high estimate of $250.00, and a low estimate of $160.00. This upward trend is evident, with the current average reflecting a 8.75% increase from the previous average price target of $197.35.
Decoding Analyst Ratings: A Detailed Look
The analysis of recent analyst actions sheds light on the perception of Snowflake by financial experts. 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 |
|---|---|---|---|---|---|
| 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 | - |
| Matthew Hedberg | RBC Capital | Announces | Outperform | $230.00 | - |
| Brian White | Monness, Crespi, Hardt | Announces | Sell | $160.00 | - |
| Brent Bracelin | Piper Sandler | Raises | Overweight | $250.00 | $220.00 |
| J. Derrick Wood | TD Cowen | Raises | Outperform | $230.00 | $215.00 |
| Blair Abernethy | Rosenblatt | Raises | Neutral | $190.00 | $170.00 |
| Patrick Colville | Scotiabank | Raises | Sector Outperform | $226.00 | $194.00 |
| Simon Leopold | Raymond James | Raises | Outperform | $190.00 | $170.00 |
| Brad Reback | Stifel | Raises | Buy | $235.00 | $200.00 |
| Joel Fishbein | Truist Securities | Raises | Buy | $210.00 | $200.00 |
| Joe Goodwin | JMP Securities | Raises | Market Outperform | $212.00 | $200.00 |
| Gregg Moskowitz | Mizuho | Raises | Buy | $210.00 | $180.00 |
| Ittai Kidron | Oppenheimer | Raises | Outperform | $240.00 | $220.00 |
| Michael Turrin | Wells Fargo | Raises | Overweight | $210.00 | $190.00 |
| Mark Murphy | JP Morgan | Raises | Overweight | $200.00 | $170.00 |
| Keith Weiss | Morgan Stanley | Raises | Overweight | $230.00 | $215.00 |
| Mike Cikos | Needham | Raises | Buy | $225.00 | $216.00 |
| Brent Bracelin | Piper Sandler | Raises | Overweight | $220.00 | $195.00 |
| Joe Goodwin | JMP Securities | Maintains | Market Outperform | $200.00 | - |
| Connor Murphy | Capital One | Announces | Overweight | $195.00 | - |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Snowflake. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Snowflake compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Snowflake's stock. This comparison reveals trends in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Snowflake's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Snowflake analyst ratings.
About Snowflake
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.
A Deep Dive into Snowflake's Financials
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Snowflake displayed positive results in 3 months. As of 31 October, 2023, the company achieved a solid revenue growth rate of approximately 31.8%. 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 standards, pointing towards difficulties in achieving strong profitability. With a net margin of -29.18%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Snowflake's ROE excels beyond industry benchmarks, reaching -4.19%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Snowflake's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -2.9%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Snowflake's debt-to-equity ratio is below the industry average at 0.06, reflecting a lower dependency on debt financing and a more conservative financial approach.
The Core of Analyst Ratings: What Every Investor Should Know
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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