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

Snowflake (NYSE:SNOW) had its price target lifted by Bank of America from $160.00 to $185.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

SNOW has been the topic of several other research reports. JMP Securities lowered their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Needham & Company LLC lifted their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI upped their price objective on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and set a $180.00 target price on shares of Snowflake in a research report on Thursday. Finally, Stifel Nicolaus reduced their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Trading Down 2.3 %

NYSE:SNOW opened at $167.44 on Thursday. The company has a market cap of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. The company has a 50 day simple moving average of $120.06 and a two-hundred day simple moving average of $128.00. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. Snowflake’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) earnings per share. Research analysts forecast that Snowflake will post -2.41 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 over the last three months. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of SNOW. Covestor Ltd boosted its stake in shares of Snowflake by 25.0% during the first 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. Modus Advisors LLC lifted its holdings in Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares in the last quarter. Catalyst Private Wealth LLC boosted its position in Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after buying an additional 104 shares during the period. Iron Gate Global Advisors LLC increased its position in shares of Snowflake by 0.9% during the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock worth $1,878,000 after acquiring an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after acquiring an additional 108 shares in the last quarter. 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.