Snowflake (NYSE:SNOW) Price Target Raised to $185.00

Snowflake (NYSE:SNOW) had its price objective raised by KeyCorp from $150.00 to $185.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently issued reports on SNOW. UBS Group cut their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. DA Davidson restated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. TD Cowen dropped their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Finally, Barclays decreased their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Down 2.3 %

NYSE:SNOW opened at $167.44 on Thursday. The stock has a fifty day simple moving average of $120.06 and a 200 day simple moving average of $128.00. The firm has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 22.01%. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the company posted ($0.52) earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities analysts predict that Snowflake will post -2.41 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 quarter, insiders have sold 59,538 shares of company stock worth $7,061,544. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC lifted its holdings in shares of Snowflake by 26.1% during the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after acquiring an additional 295 shares during the period. Covestor Ltd grew its stake in shares of Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Snowflake by 21.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock worth $2,042,000 after buying an additional 2,191 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Snowflake by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after buying an additional 2,000 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Snowflake by 372.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock valued at $36,546,000 after buying an additional 178,253 shares in the last quarter. 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.