Snowflake (NYSE:SNOW) Price Target Raised to $195.00

Snowflake (NYSE:SNOW) had its price objective hoisted by Rosenblatt Securities from $185.00 to $195.00 in a report issued on Thursday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

A number of other equities analysts also recently commented on SNOW. Piper Sandler restated an overweight rating and issued a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. Royal Bank of Canada cut their price target on shares of Snowflake from $246.00 to $220.00 and set an outperform rating on the stock in a report on Monday, May 20th. JPMorgan Chase & Co. decreased their price objective on shares of Snowflake from $200.00 to $170.00 and set an overweight rating for the company in a report on Thursday, February 29th. Citigroup lowered their target price on shares of Snowflake from $290.00 to $240.00 and set a buy rating on the stock in a research report on Monday, March 4th. Finally, Mizuho reaffirmed a buy rating and issued a $205.00 price target (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Snowflake presently has a consensus rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Stock Up 1.0 %

SNOW stock opened at $156.16 on Thursday. The company has a 50 day moving average of $157.03 and a two-hundred day moving average of $180.31. The company has a market cap of $52.19 billion, a price-to-earnings ratio of -55.77 and a beta of 0.90. 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The business had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. On average, research analysts anticipate that Snowflake will post -1.83 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, Director Mark D. Mclaughlin bought 3,030 shares of the business’s stock in a transaction 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 completion of the acquisition, the director now owns 11,687 shares in the company, valued at approximately $1,933,614.15. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snowflake news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark D. Mclaughlin bought 3,030 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $165.45 per share, for a total transaction of $501,313.50. Following the purchase, the director now directly owns 11,687 shares in the company, valued at approximately $1,933,614.15. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 62,380 shares of company stock valued at $9,803,625. 8.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares during the last quarter. Jennison Associates LLC grew its position in shares of Snowflake by 3.7% during the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. FMR LLC increased its holdings in shares of Snowflake by 32.1% during the third 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. Sands Capital Management LLC raised its position in shares of Snowflake by 12.6% in the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after buying an additional 610,970 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $838,455,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.