In the latest quarter, 32 analysts provided ratings for Snowflake SNOW, showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 11 | 14 | 7 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 2 | 2 | 0 | 0 | 0 |
| 3M Ago | 9 | 12 | 6 | 0 | 0 |
Analysts have set 12-month price targets for Snowflake, revealing an average target of $202.97, a high estimate of $240.00, and a low estimate of $130.00. Observing a downward trend, the current average is 4.39% lower than the prior average price target of $212.28.
Exploring Analyst Ratings: An In-Depth Overview
In examining recent analyst actions, we gain insights into how financial experts perceive Snowflake. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Michael Turrin | Wells Fargo | Lowers | Equal-Weight | $130.00 | $200.00 |
| Brent Bracelin | Piper Sandler | Lowers | Overweight | $165.00 | $240.00 |
| 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 |
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 explore the dynamics of price targets, providing estimates for the future value of Snowflake's stock. This examination reveals shifts in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Snowflake's market standing. Stay informed and make data-driven 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.
Snowflake's Financial Performance
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Over the 3 months period, Snowflake showcased positive performance, achieving a revenue growth rate of 32.89% as of 30 April, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the 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 excels beyond industry benchmarks, reaching -6.51%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -4.08%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.06.
The Core of Analyst Ratings: What Every Investor Should Know
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
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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