Snowflake (NYSE:SNOW) Given New $200.00 Price Target at Needham & Company LLC

Snowflake (NYSE:SNOW) had its target price increased by Needham & Company LLC from $160.00 to $200.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on SNOW. Scotiabank cut their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday. Wedbush upgraded Snowflake to a “hold” rating in a research note on Thursday, October 17th. Evercore ISI lowered their price objective on Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, TD Cowen dropped their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Trading Up 0.3 %

Shares of NYSE SNOW traded up $0.50 during mid-day trading on Thursday, hitting $171.85. The company had a trading volume of 8,272,944 shares, compared to its average volume of 6,723,001. The firm has a 50-day simple moving average of $118.98 and a two-hundred day simple moving average of $128.19. The company has a market capitalization of $57.60 billion, a PE ratio of -55.90 and a beta of 0.83. Snowflake has a one year low of $107.13 and a one year high of $237.72.

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

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently modified their holdings of SNOW. Covestor Ltd lifted its position in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after acquiring an additional 70 shares during the period. Modus Advisors LLC grew its holdings in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares during the period. Catalyst Private Wealth LLC increased its stake in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares in the last quarter. Iron Gate Global Advisors LLC raised its holdings 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 valued at $1,878,000 after purchasing an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares in the last quarter. 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.