Analyst Ratings Coverage:
Analyst cut targets across the board as their adjust their coverage after poor growth forecasts for Snowflake:
- Barclays: Barclays maintains an Overweight rating for Snowflake Inc. with a target price cut from USD 171 to USD 165.
- Rosenblatt Securities: Rosenblatt Securities downgraded their rating for Snowflake Inc. from a Buy to Neutral. They revised their target price range from USD 188 to USD 170, indicating a more cautious stance on the stock’s performance.
- TD Cowen: TD Cowen maintains an Outperform rating for Snowflake Inc. Their target price was dropped from USD 205 to USD 185.
- Mizuho Securities: Mizuho Securities maintains a Buy rating for Snowflake Inc. with a target price cut from USD 185 to USD 175.
- Wells Fargo & Company: Wells Fargo & Company maintains an Overweight rating for Snowflake Inc. Their target price is set at USD 185, down from USD 200.
- JMP Securities: JMP Securities maintains a Market Outperform rating for Snowflake Inc. with a target price range of USD 215 to USD 200. This suggests they expect the stock to perform better than the overall market.
- UBS: UBS maintains a Neutral rating for Snowflake Inc. with a target price cut from USD 170 to USD 155.
- Scotia Capital: Scotia Capital downgraded their rating for Snowflake Inc. to Sector Perform from Outperform. They cut their target price to USD 137, suggesting a more cautious outlook on the stock.
- Stifel Nicolaus: Stifel Nicolaus maintains a Buy rating for Snowflake Inc. with a target price range of USD 180, down slightly from USD 185.
- Loop Capital Markets: Loop Capital Markets maintains a Buy rating for Snowflake Inc. with a target price of USD 195, cut from $200.
- Oppenheimer & Co.: Oppenheimer & Co. maintains an Outperform rating for Snowflake Inc. with a target price of USD 190. This
- STA Research: STA Research maintains a Strong Buy rating for Snowflake Inc. They revised their target price to USD 185 from $205. T
- Morningstar: Morningstar assigns a Buy rating for Snowflake Inc. with a target price of USD 231.
SNOW Stock Forecast & Analysis
The average analyst target price for Snowflake Inc. is USD 184.89 over the next 12 months. This figure represents the consensus among 41 analysts regarding the expected price level for the stock. Analysts consider various factors such as company performance, industry trends, and market conditions to arrive at their target price estimates.
Snowflake Inc.’s average analyst rating is Strong Buy. This indicates that, on average, analysts have a positive outlook on the stock and believe it has strong potential for growth. The strong buy rating suggests that the majority of analysts recommend investors to consider purchasing shares of Snowflake Inc. based on their assessment of the company’s prospects.
Stock Target Advisor’s own analysis of Snowflake Inc. is Bearish. This analysis is based on 2 positive signals and 6 negative signals. Positive signals may include factors such as positive earnings surprises, strong financial performance, or favorable industry conditions. On the other hand, negative signals may encompass elements like negative earnings surprises, weak financial indicators, or challenging market conditions. The bearish stance from Stock Target Advisor suggests a more cautious view on the stock’s performance.
At the last closing, Snowflake Inc.’s stock price was USD 177.14. Over the past week, the stock price has changed by +1.79%. This indicates a slight upward movement in the stock price in the short term. Furthermore, over the past month, the stock price has shown significant growth, with a change of +24.30%. Looking at the longer term, the stock price has increased by +36.65% over the last year, indicating a positive trend in the stock’s performance.