Fintel reports that on February 29, 2024, Morgan Stanley downgraded their outlook for Snowflake (NYSE:SNOW) from Overweight to Equal-Weight .
Analyst Price Forecast Suggests 1.04% Upside
As of February 24, 2024, the average one-year price target for Snowflake is 232.40. The forecasts range from a low of 121.20 to a high of $630.00. The average price target represents an increase of 1.04% from its latest reported closing price of 230.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Snowflake is 3,066MM, an increase of 9.25%. The projected annual non-GAAP EPS is 0.49.
What is the Fund Sentiment?
There are 1714 funds or institutions reporting positions in Snowflake. This is an increase of 154 owner(s) or 9.87% in the last quarter. Average portfolio weight of all funds dedicated to SNOW is 0.63%, a decrease of 2.85%. Total shares owned by institutions increased in the last three months by 1.77% to 241,063K shares. 
The put/call ratio of SNOW is 0.73, indicating a bullish outlook.
What are Other Shareholders Doing?
Altimeter Capital Management holds 12,425K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 15,400K shares, representing a decrease of 23.95%. The firm decreased its portfolio allocation in SNOW by 8.07% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,627K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 8,621K shares, representing an increase of 0.07%. The firm decreased its portfolio allocation in SNOW by 9.83% over the last quarter.
Sc Us holds 7,555K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 13,042K shares, representing a decrease of 72.63%. The firm decreased its portfolio allocation in SNOW by 50.74% over the last quarter.
Jennison Associates holds 6,759K shares representing 2.05% ownership of the company. In it's prior filing, the firm reported owning 7,025K shares, representing a decrease of 3.93%. The firm increased its portfolio allocation in SNOW by 10.02% over the last quarter.
Berkshire Hathaway holds 6,125K shares representing 1.86% ownership of the company. No change in the last quarter.
Snowflake Background Information
(This description is provided by the company.)
Snowflake Inc. is a cloud computing-based data warehousing company based in San Mateo, California. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. The company's name was chosen as a tribute to the founders' love of winter sports.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
