In the last three months, 28 analysts have published ratings on Snowflake SNOW, offering a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 12 | 6 | 10 | 0 | 0 |
| Last 30D | 0 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 0 | 1 | 0 | 0 |
| 2M Ago | 0 | 0 | 1 | 0 | 0 |
| 3M Ago | 10 | 6 | 8 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $162.82, a high estimate of $200.00, and a low estimate of $121.00. A decline of 15.69% from the prior average price target is evident in the current average.
Analyzing Analyst Ratings: A Detailed Breakdown
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 |
|---|---|---|---|---|---|
| Gil Luria | DA Davidson | Maintains | Buy | $175.00 | $175.00 |
| Blair Abernethy | Rosenblatt | Maintains | Buy | $180.00 | $180.00 |
| 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 |
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: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Snowflake compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Snowflake's stock. This analysis reveals shifts in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Snowflake's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Snowflake analyst ratings.
Unveiling the Story Behind 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.
Snowflake's Financial Performance
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Positive Revenue Trend: Examining Snowflake's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 28.9% as of 31 July, 2024, showcasing a substantial increase in 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 falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -36.47%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -7.3%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Snowflake's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -4.45%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 0.08, Snowflake adopts a prudent financial strategy, indicating a balanced approach to debt management.
How Are Analyst Ratings Determined?
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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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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