Fintel reports that on October 1, 2024, Argus Research initiated coverage of Snowflake (NYSE:SNOW) with a Hold recommendation.
Analyst Price Forecast Suggests 54.18% Upside
As of September 25, 2024, the average one-year price target for Snowflake is $170.00/share. The forecasts range from a low of $106.05 to a high of $231.00. The average price target represents an increase of 54.18% from its latest reported closing price of $110.26 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Snowflake is 4,302MM, an increase of 34.17%. The projected annual non-GAAP EPS is 0.88.
What is the Fund Sentiment?
There are 1,641 funds or institutions reporting positions in Snowflake. This is an decrease of 83 owner(s) or 4.81% in the last quarter. Average portfolio weight of all funds dedicated to SNOW is 0.41%, an increase of 15.54%. Total shares owned by institutions increased in the last three months by 0.91% to 228,701K shares. 
The put/call ratio of SNOW is 0.68, indicating a bullish outlook.
What are Other Shareholders Doing?
Altimeter Capital Management holds 9,551K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 10,281K shares , representing a decrease of 7.65%. The firm decreased its portfolio allocation in SNOW by 24.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,516K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 9,311K shares , representing an increase of 2.16%. The firm decreased its portfolio allocation in SNOW by 16.92% over the last quarter.
Bank Of Montreal holds 7,608K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 4,811K shares , representing an increase of 36.77%. The firm decreased its portfolio allocation in SNOW by 58.43% over the last quarter.
Sc Us holds 7,501K shares representing 2.24% ownership of the company. In its prior filing, the firm reported owning 7,541K shares , representing a decrease of 0.53%. The firm decreased its portfolio allocation in SNOW by 31.33% over the last quarter.
Norges Bank holds 6,185K shares representing 1.85% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
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.
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