Snowflake (NYSE:SNOW) Given New $190.00 Price Target at UBS Group

Snowflake (NYSE:SNOW) had its price target hoisted by UBS Group from $185.00 to $190.00 in a research report released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also weighed in on the stock. Canaccord Genuity Group restated a buy rating and set a $230.00 target price on shares of Snowflake in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on Snowflake from $170.00 to $185.00 and gave the stock an overweight rating in a research note on Thursday. JMP Securities reiterated a market outperform rating and issued a $235.00 target price on shares of Snowflake in a report on Friday, May 17th. BNP Paribas upgraded Snowflake from a neutral rating to an outperform rating and set a $200.00 price objective for the company in a research report on Thursday, May 2nd. Finally, Piper Sandler reaffirmed an overweight rating and issued a $240.00 price target on shares of Snowflake in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, Snowflake has a consensus rating of Moderate Buy and an average target price of $200.64.

Snowflake Price Performance

Shares of Snowflake stock opened at $156.16 on Thursday. The business has a 50 day simple moving average of $157.03 and a two-hundred day simple moving average of $180.46. The stock has a market capitalization of $52.19 billion, a P/E 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 issued its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. As a group, research analysts anticipate that Snowflake will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following 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 quarter, insiders sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the stock. Trexquant Investment LP increased its stake in shares of Snowflake by 266.3% during the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after acquiring an additional 7,633 shares during the period. Rakuten Securities Inc. purchased a new position in shares of Snowflake during the 4th quarter worth approximately $790,000. Sequoia Financial Advisors LLC raised its stake in shares of Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at approximately $458,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $288,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.