New Buy Rating for Snowflake (SNOW), the Technology Giant
In a report released today, Eric Heath from KeyBanc maintained a Buy rating on Snowflake, with a price target of $200.00.
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Heath covers the Technology sector, focusing on stocks such as Okta, Netskope, Inc., and Snowflake. According to TipRanks, Heath has an average return of 5.2% and a 49.18% success rate on recommended stocks.
In addition to KeyBanc, Snowflake also received a Buy from Evercore ISI’s Kirk Materne in a report issued yesterday. However, on April 1, Barclays maintained a Hold rating on Snowflake (NYSE: SNOW).
Based on Snowflake’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.28 billion and a GAAP net loss of $309.55 million. In comparison, last year the company earned a revenue of $986.77 million and had a GAAP net loss of $327.47 million
Based on the recent corporate insider activity of 241 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNOW in relation to earlier this year.
Read More on SNOW:
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- Mixed options sentiment in Snowflake with shares down 0.42%
- Snowflake price target lowered to $200 from $225 at Evercore ISI
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