Barclays Sticks to Its Hold Rating for Snowflake (SNOW)

In a report released on February 23, Raimo Lenschow from Barclays maintained a Hold rating on Snowflake, with a price target of $204.00. The company’s shares closed yesterday at $157.60.

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According to TipRanks, Lenschow is an analyst with an average return of -3.6% and a 43.21% success rate. Lenschow covers the Technology sector, focusing on stocks such as Oracle, Workday, and Snowflake.

In addition to Barclays, Snowflake also received a Hold from Bernstein’s Mark Moerdler in a report issued on February 23. However, on the same day, Monness maintained a Buy rating on Snowflake (NYSE: SNOW).

Based on Snowflake’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.21 billion and a GAAP net loss of $293.96 million. In comparison, last year the company earned a revenue of $942.09 million and had a GAAP net loss of $324.28 million

Based on the recent corporate insider activity of 247 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. Last month, Vivek Raghunathan, the SVP, Engineering and Support of SNOW sold 11,801.00 shares for a total of $2,601,294.43.