Snowflake (NYSE:SNOW) Price Target Raised to $185.00

Snowflake (NYSE:SNOW) had its target price upped by investment analysts at Sanford C. Bernstein from $171.00 to $185.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target would suggest a potential upside of 15.97% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Thursday, May 2nd. Mizuho reaffirmed a “buy” rating and set a $205.00 target price (down from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Raymond James lifted their target price on shares of Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.11.

Snowflake Stock Down 2.3 %

Shares of Snowflake stock traded down $3.82 during midday trading on Thursday, hitting $159.52. The company had a trading volume of 11,574,647 shares, compared to its average volume of 6,089,442. The stock has a market cap of $53.31 billion, a price-to-earnings ratio of -62.26 and a beta of 0.90. The company has a fifty day simple moving average of $157.13 and a 200 day simple moving average of $180.26. Snowflake has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, analysts expect that Snowflake will post -1.83 EPS for the current year.

Insider Activity at Snowflake

In related news, Director Mark D. Mclaughlin purchased 3,030 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $165.45 per share, for a total transaction of $501,313.50. Following the completion of the purchase, the director now directly owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark D. Mclaughlin acquired 3,030 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $165.45 per share, for a total transaction of $501,313.50. Following the purchase, the director now owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The disclosure for this purchase can be found here. Insiders sold 62,380 shares of company stock valued at $9,803,625 over the last three months. 8.30% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Snowflake in the 4th quarter worth about $838,455,000. Swedbank AB purchased a new position in shares of Snowflake in the 1st quarter worth about $258,957,000. Vanguard Group Inc. raised its holdings in shares of Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. FMR LLC raised its holdings in shares of Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after purchasing an additional 1,496,235 shares during the period. Finally, Winslow Capital Management LLC purchased a new position in shares of Snowflake in the 3rd quarter worth about $226,302,000. 65.10% of the stock is 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.