Deutsche Bank Aktiengesellschaft Boosts Snowflake (NYSE:SNOW) Price Target to $190.00

Snowflake (NYSE:SNOW) had its price objective upped by research analysts at Deutsche Bank Aktiengesellschaft from $180.00 to $190.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 11.82% from the company’s previous close.

Other research analysts have also issued reports about the stock. Robert W. Baird cut their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Barclays raised their target price on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price target on shares of Snowflake in a research note on Tuesday. Jefferies Financial Group raised their price objective on Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HSBC raised Snowflake from a “reduce” rating to a “hold” rating and upped their target price for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.23.

Snowflake Stock Performance

Shares of SNOW stock traded up $40.80 during mid-day trading on Thursday, hitting $169.92. The company’s stock had a trading volume of 26,946,754 shares, compared to its average volume of 6,591,476. The company has a market cap of $56.96 billion, a PE ratio of -55.53 and a beta of 0.83. The company’s fifty day simple moving average is $117.82 and its 200-day simple moving average is $127.89. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.52) earnings per share. On average, equities analysts anticipate that Snowflake will post -2.41 earnings per share for the current year.

Insider Activity

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 287 shares of the business’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 transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. Ontario Teachers Pension Plan Board raised its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Swedbank AB bought a new position in shares of Snowflake during the 1st quarter valued at $258,957,000. Two Sigma Advisers LP raised its position in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the period. AQR Capital Management LLC raised its position in Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after purchasing an additional 660,168 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Hedge funds and other institutional investors 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.