Snowflake (NYSE:SNOW) Given New $125.00 Price Target at UBS Group

Snowflake (NYSE:SNOW) had its price target reduced by UBS Group from $155.00 to $125.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

SNOW has been the topic of a number of other research reports. Loop Capital decreased their price target on shares of Snowflake from $225.00 to $185.00 and set a buy rating on the stock in a research note on Wednesday, August 21st. DA Davidson decreased their target price on shares of Snowflake from $230.00 to $175.00 and set a buy rating on the stock in a research report on Thursday, August 22nd. Canaccord Genuity Group dropped their price target on Snowflake from $215.00 to $190.00 and set a buy rating for the company in a research report on Thursday, August 22nd. Citigroup reduced their price objective on Snowflake from $236.00 to $200.00 and set a buy rating on the stock in a research note on Tuesday, August 20th. Finally, Needham & Company LLC lowered their price objective on Snowflake from $210.00 to $160.00 and set a buy rating for the company in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $175.17.

Snowflake Stock Up 1.3 %

SNOW opened at $113.93 on Tuesday. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a 50-day simple moving average of $118.88 and a two-hundred day simple moving average of $137.73. The company has a market capitalization of $38.14 billion, a PE ratio of -40.69 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating 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 19.62% and a negative net margin of 31.73%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.52) EPS. As a group, sell-side analysts expect that Snowflake will post -2.41 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snowflake news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $2,144,700.00. Following the sale, the executive vice president now owns 733,773 shares in the company, valued at approximately $104,914,863.54. The disclosure for this sale can be found here. Insiders sold 45,386 shares of company stock valued at $5,715,941 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. Accent Capital Management LLC purchased a new position in Snowflake in the 4th quarter worth $25,000. LRI Investments LLC raised its stake in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake during the second quarter worth about $27,000. Riverview Trust Co purchased a new stake in Snowflake in the first quarter valued at approximately $31,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Snowflake in the 1st quarter worth approximately $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.