Providing a diverse range of perspectives from bullish to bearish, 33 analysts have published ratings on Snowflake SNOW in the last three months.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 11 | 15 | 7 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 1 | 0 | 0 |
| 2M Ago | 9 | 13 | 6 | 0 | 0 |
| 3M Ago | 0 | 1 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $206.67, with a high estimate of $240.00 and a low estimate of $180.00. Observing a downward trend, the current average is 2.74% lower than the prior average price target of $212.50.
Diving into Analyst Ratings: An In-Depth Exploration
A comprehensive examination of how financial experts perceive Snowflake is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Mike Cikos | Needham | Maintains | Buy | $210.00 | $210.00 |
| Kash Rangan | Goldman Sachs | Maintains | Buy | $220.00 | $220.00 |
| Michael Turrin | Wells Fargo | Lowers | Overweight | $200.00 | $225.00 |
| Bradley Sills | B of A Securities | Maintains | Neutral | $200.00 | $200.00 |
| Blair Abernethy | Rosenblatt | Maintains | Buy | $195.00 | $195.00 |
| Matthew Hedberg | RBC Capital | Lowers | Outperform | $183.00 | $226.00 |
| Brent Bracelin | Piper Sandler | Maintains | Overweight | $240.00 | $240.00 |
| Taz Koujalgi | Wedbush | Maintains | Neutral | $210.00 | $210.00 |
| Gregg Moskowitz | Mizuho | Lowers | Buy | $180.00 | $205.00 |
| Mike Cikos | Needham | Maintains | Buy | $210.00 | $210.00 |
| Joe Goodwin | JMP Securities | Maintains | Market Outperform | $235.00 | $235.00 |
| Mike Cikos | Needham | Maintains | Buy | $210.00 | $210.00 |
| Frederick Havemeyer | Macquarie | Lowers | Outperform | $200.00 | $205.00 |
| David Hynes | Canaccord Genuity | Lowers | Buy | $215.00 | $230.00 |
| Patrick Colville | Scotiabank | Lowers | Sector Outperform | $195.00 | $207.00 |
| William Power | Baird | Lowers | Outperform | $200.00 | $210.00 |
| Mark Moerdler | Bernstein | Raises | Market Perform | $185.00 | $171.00 |
| Mark Schappel | Loop Capital | Lowers | Buy | $225.00 | $235.00 |
| Raimo Lenschow | Barclays | Raises | Equal-Weight | $191.00 | $188.00 |
| Matthew Hedberg | RBC Capital | Raises | Outperform | $226.00 | $220.00 |
| Karl Keirstead | UBS | Raises | Neutral | $190.00 | $185.00 |
| Brad Reback | Stifel | Lowers | Buy | $200.00 | $220.00 |
| Ittai Kidron | Oppenheimer | Maintains | Outperform | $220.00 | $220.00 |
| Mark Murphy | JP Morgan | Raises | Overweight | $185.00 | $170.00 |
| Blair Abernethy | Rosenblatt | Raises | Buy | $195.00 | $185.00 |
| Eric Heath | Keybanc | Raises | Overweight | $200.00 | $185.00 |
| Mike Cikos | Needham | Lowers | Buy | $210.00 | $240.00 |
| Brent Bracelin | Piper Sandler | Maintains | Overweight | $240.00 | $240.00 |
| Taz Koujalgi | Wedbush | Maintains | Neutral | $210.00 | $210.00 |
| Matthew Hedberg | RBC Capital | Lowers | Outperform | $220.00 | $246.00 |
| Joe Goodwin | JMP Securities | Maintains | Market Outperform | $235.00 | $235.00 |
| Bradley Sills | B of A Securities | Lowers | Neutral | $200.00 | $212.00 |
| Eric Heath | Keybanc | Announces | Overweight | $185.00 | - |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Snowflake. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Snowflake compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Snowflake's stock. This comparison reveals trends in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Snowflake's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Snowflake analyst ratings.
Delving into Snowflake's Background
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.
Breaking Down Snowflake's Financial Performance
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Snowflake displayed positive results in 3 months. As of 30 April, 2024, the company achieved a solid revenue growth rate of approximately 32.89%. 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 -38.25%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Snowflake's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -6.51%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Snowflake's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -4.08%, the company may face hurdles in generating optimal 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 Significance of Analyst Ratings Explained
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.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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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