Snowflake (NYSE:SNOW) PT Lowered to $210.00

Snowflake (NYSE:SNOW) had its target price decreased by Needham & Company LLC from $240.00 to $210.00 in a report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group reissued a buy rating and set a $230.00 price target on shares of Snowflake in a report on Thursday, February 29th. Guggenheim raised Snowflake from a sell rating to a neutral rating in a research note on Friday, March 15th. Monness Crespi & Hardt upgraded Snowflake from a sell rating to a neutral rating in a research note on Monday, March 18th. Truist Financial reduced their price objective on shares of Snowflake from $250.00 to $210.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Finally, Wedbush reissued a neutral rating and issued a $210.00 target price on shares of Snowflake in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Snowflake has an average rating of Moderate Buy and an average target price of $200.64.

Snowflake Trading Up 1.0 %

Snowflake stock opened at $156.16 on Thursday. Snowflake has a 12-month low of $138.40 and a 12-month high of $237.72. The firm has a market capitalization of $52.19 billion, a price-to-earnings ratio of -55.77 and a beta of 0.90. The firm has a 50 day moving average of $157.03 and a 200 day moving average of $180.31.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. On average, analysts predict that Snowflake will post -1.83 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC grew its position in shares of Snowflake by 76.5% during the 1st quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock worth $4,659,000 after buying an additional 12,497 shares in the last quarter. Cetera Investment Advisers lifted its stake in Snowflake by 201.5% in the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after acquiring an additional 42,563 shares during the period. Swedbank AB bought a new position in Snowflake during the 1st quarter worth about $258,957,000. Sanibel Captiva Trust Company Inc. purchased a new position in Snowflake during the 1st quarter valued at about $2,004,000. Finally, Arrow Financial Corp increased its position in Snowflake by 24.8% during the 1st quarter. Arrow Financial Corp now owns 7,604 shares of the company’s stock valued at $1,229,000 after purchasing an additional 1,511 shares during the period. 65.10% of the stock is owned by institutional investors.

About Snowflake

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.