Throughout the last three months, 21 analysts have evaluated Snowflake SNOW, offering a diverse set of opinions from bullish to bearish.
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 | 4 | 14 | 2 | 0 | 1 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 2 | 0 | 0 | 1 |
| 2M Ago | 4 | 10 | 1 | 0 | 0 |
| 3M Ago | 0 | 1 | 1 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $212.05, a high estimate of $250.00, and a low estimate of $160.00. Marking an increase of 7.37%, the current average surpasses the previous average price target of $197.50.
Investigating Analyst Ratings: An Elaborate Study
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 |
|---|---|---|---|---|---|
| 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 | - |
| Brent Bracelin | Piper Sandler | Lowers | Overweight | $195.00 | $205.00 |
| Bradley Sills | B of A Securities | Announces | Neutral | $195.00 | - |
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: Gaining insights, analysts provide estimates for the future value of Snowflake's stock. This comparison reveals trends 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.
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.
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 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 competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Snowflake's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -29.18%, 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 -4.19%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Snowflake's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -2.9%, the company may face hurdles in achieving optimal financial returns.
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.
What Are Analyst Ratings?
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
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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