Snowflake (NYSE:SNOW) Given New $160.00 Price Target at Wedbush

Snowflake (NYSE:SNOW) had its price target upped by Wedbush from $130.00 to $160.00 in a research note released on Thursday,Benzinga reports. Wedbush currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. Barclays upped their price objective on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday. Robert W. Baird cut their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Bank of America increased their target price on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Thursday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Trading Up 32.5 %

Shares of SNOW opened at $171.05 on Thursday. The stock’s 50 day moving average is $118.98 and its two-hundred day moving average is $128.19. The firm has a market cap of $57.34 billion, a P/E ratio of -55.90 and a beta of 0.83. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate 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 for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.52) earnings per share. Equities research analysts forecast that Snowflake will post -2.41 EPS for the current year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the company’s 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 completion of the transaction, the insider now owns 53,250 shares of the company’s stock, valued at $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 ninety days, 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

A number of large investors have recently bought and sold shares of SNOW. LRI Investments LLC bought a new stake in shares of Snowflake during the first quarter worth $29,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake during the second quarter worth $27,000. Groupama Asset Managment bought a new stake in shares of Snowflake during the third quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake during the third quarter worth $30,000. Finally, Global Financial Private Client LLC bought a new stake in shares of Snowflake during the first quarter worth $44,000. 65.10% of the stock is currently 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.