New Buy Rating for Snowflake (SNOW), the Technology Giant

Goldman Sachs analyst Gabriela Borges maintained a Buy rating on Snowflake today and set a price target of $216.00.

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Borges covers the Technology sector, focusing on stocks such as Microsoft, Workday, and Snowflake. According to TipRanks, Borges has an average return of 2.6% and a 48.31% success rate on recommended stocks.

In addition to Goldman Sachs, Snowflake also received a Buy from Morgan Stanley’s Sanjit Singh in a report issued today. However, on the same day, TipRanks – Anthropic reiterated a Hold 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 242 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.