Snowflake (NYSE:SNOW) Price Target Raised to $150.00

Snowflake (NYSE:SNOW) had its price objective increased by Wells Fargo & Company from $125.00 to $150.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. Stifel Nicolaus dropped their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Jefferies Financial Group dropped their price objective on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Loop Capital decreased their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Stock Down 2.3 %

SNOW opened at $167.44 on Thursday. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The business has a 50 day moving average price of $120.06 and a two-hundred day moving average price of $128.00. The company has a market cap of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.52) earnings per share. As a group, sell-side analysts expect that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd grew its position in Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after acquiring an additional 70 shares during the period. Modus Advisors LLC grew its holdings in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares during the period. Catalyst Private Wealth LLC increased its position in Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares in the last quarter. Iron Gate Global Advisors LLC raised its holdings in Snowflake by 0.9% in the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after buying an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after buying an additional 108 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.