In the latest quarter, 28 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 | 7 | 10 | 0 | 0 |
| Last 30D | 0 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 1 | 0 | 0 |
| 2M Ago | 10 | 6 | 9 | 0 | 0 |
| 3M Ago | 1 | 1 | 0 | 0 | 0 |
Analysts have recently evaluated Snowflake and provided 12-month price targets. The average target is $163.54, accompanied by a high estimate of $210.00 and a low estimate of $121.00. A 16.83% drop is evident in the current average compared to the previous average price target of $196.63.
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 |
|---|---|---|---|---|---|
| Karl Keirstead | UBS | Lowers | Neutral | $125.00 | $155.00 |
| Stephen Bersey | HSBC | Announces | Hold | $121.00 | - |
| Brent Thill | Jefferies | Lowers | Buy | $145.00 | $160.00 |
| Patrick Colville | Scotiabank | Lowers | Sector Outperform | $165.00 | $195.00 |
| Taz Koujalgi | Wedbush | Lowers | Neutral | $140.00 | $210.00 |
| Michael Turrin | Wells Fargo | Lowers | Equal-Weight | $125.00 | $130.00 |
| Raimo Lenschow | Barclays | Lowers | Equal-Weight | $142.00 | $146.00 |
| Gil Luria | DA Davidson | Lowers | Buy | $175.00 | $230.00 |
| David Hynes | Canaccord Genuity | Lowers | Buy | $190.00 | $215.00 |
| Keith Weiss | Morgan Stanley | Maintains | Equal-Weight | $175.00 | $175.00 |
| Blair Abernethy | Rosenblatt | Lowers | Buy | $180.00 | $195.00 |
| William Power | Baird | Lowers | Outperform | $152.00 | $165.00 |
| Mike Cikos | Needham | Lowers | Buy | $160.00 | $210.00 |
| Joe Goodwin | JMP Securities | Lowers | Market Outperform | $190.00 | $235.00 |
| Brent Bracelin | Piper Sandler | Maintains | Overweight | $165.00 | $165.00 |
| Mark Schappel | Loop Capital | Lowers | Buy | $185.00 | $225.00 |
| Tyler Radke | Citigroup | Lowers | Buy | $200.00 | $236.00 |
| William Power | Baird | Lowers | Outperform | $165.00 | $200.00 |
| Brad Reback | Stifel | Lowers | Buy | $168.00 | $200.00 |
| Kirk Materne | Evercore ISI Group | Lowers | Outperform | $170.00 | $225.00 |
| Karl Keirstead | UBS | Lowers | Neutral | $155.00 | $171.00 |
| J. Derrick Wood | TD Cowen | Lowers | Buy | $180.00 | $230.00 |
| Raimo Lenschow | Barclays | Lowers | Equal-Weight | $146.00 | $191.00 |
| Blair Abernethy | Rosenblatt | Maintains | Buy | $195.00 | $195.00 |
| Bradley Sills | B of A Securities | Lowers | Neutral | $160.00 | $200.00 |
| 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 |
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: 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 set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
Capture valuable insights into Snowflake's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Snowflake analyst ratings.
All You Need to Know 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.
Financial Insights: Snowflake
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Over the 3 months period, Snowflake showcased positive performance, achieving a revenue growth rate of 28.9% as of 31 July, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the 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 -36.47%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Snowflake's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -7.3%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Snowflake's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -4.45%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Snowflake's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.08.
How Are Analyst Ratings Determined?
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.
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.
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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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