Across the recent three months, 27 analysts have shared their insights on Snowflake SNOW, expressing a variety of opinions spanning from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 10 | 9 | 7 | 0 | 1 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 1 |
| 3M Ago | 9 | 8 | 6 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $215.96, a high estimate of $290.00, and a low estimate of $125.00. This current average represents a 5.71% decrease from the previous average price target of $229.04.
Breaking Down Analyst Ratings: A Detailed Examination
The standing of Snowflake among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below 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 |
|---|---|---|---|---|---|
| Bradley Sills | B of A Securities | Lowers | Neutral | $200.00 | $212.00 |
| Eric Heath | Keybanc | Announces | Overweight | $185.00 | - |
| 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 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Snowflake. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into 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.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Snowflake's market position. Stay informed and make data-driven decisions with the assistance of 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.
Unraveling the Financial Story of Snowflake
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's remarkable performance in 3 months is evident. As of 31 January, 2024, the company achieved an impressive revenue growth rate of 31.53%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Snowflake's net margin excels beyond industry benchmarks, reaching -21.86%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Snowflake's ROE excels beyond industry benchmarks, reaching -3.35%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -2.19%, the company showcases effective utilization of assets.
Debt Management: With a below-average debt-to-equity ratio of 0.06, Snowflake adopts a prudent financial strategy, indicating a balanced approach to debt management.
Understanding the Relevance of 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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