Snowflake (SNOW) Set to Announce Earnings on Wednesday

Snowflake (NYSE:SNOW) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, November 20th. Analysts expect Snowflake to post earnings of $0.15 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.52) earnings per share. On average, analysts expect Snowflake to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Snowflake Trading Up 1.2 %

Shares of Snowflake stock opened at $127.41 on Tuesday. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72. The company’s fifty day simple moving average is $117.08 and its 200-day simple moving average is $128.09. The company has a market cap of $42.71 billion, a price-to-earnings ratio of -41.64 and a beta of 0.83.

Insider Activity at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at $86,610,600. This represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SNOW. Piper Sandler restated an “overweight” rating and set a $165.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Wells Fargo & Company lowered their price target on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Loop Capital lowered their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, Robert W. Baird reduced their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $171.59.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.