Snowflake (NYSE:SNOW) Given New $322.00 Price Target at Morgan Stanley

Snowflake (NYSE:SNOWGet Rating) had its target price lowered by investment analysts at Morgan Stanley from $355.00 to $322.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 123.55% from the company’s previous close.

Several other brokerages have also issued reports on SNOW. Truist Financial lowered their target price on Snowflake from $350.00 to $300.00 in a research note on Tuesday, May 10th. Rosenblatt Securities dropped their price objective on shares of Snowflake from $380.00 to $325.00 and set a “neutral” rating on the stock in a report on Thursday, March 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Snowflake from $375.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, March 3rd. Loop Capital upgraded shares of Snowflake from a “hold” rating to a “buy” rating and set a $370.00 price target on the stock in a research note on Tuesday, January 25th. Finally, Evercore ISI reduced their price objective on shares of Snowflake from $400.00 to $344.00 in a research note on Thursday, March 3rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $297.95.

SNOW traded up $6.28 during trading on Thursday, hitting $144.04. 100,779 shares of the company traded hands, compared to its average volume of 6,728,667. Snowflake has a one year low of $126.01 and a one year high of $405.00. The stock’s fifty day moving average is $192.28 and its 200 day moving average is $271.77. The firm has a market cap of $45.31 billion, a P/E ratio of -63.18 and a beta of 1.80.

Snowflake (NYSE:SNOWGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Snowflake had a negative net margin of 55.76% and a negative return on equity of 13.45%. The firm had revenue of $383.77 million for the quarter, compared to analysts’ expectations of $371.89 million. During the same period in the previous year, the company earned ($0.70) earnings per share. On average, research analysts anticipate that Snowflake will post -1.6 earnings per share for the current fiscal year.

In other news, Director Michael L. Speiser sold 750,000 shares of the stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $222.18, for a total transaction of $166,635,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 11.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SNOW. Level Financial Advisors Inc. increased its position in shares of Snowflake by 475.0% during the 1st quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock valued at $26,000 after purchasing an additional 95 shares during the last quarter. Glassman Wealth Services increased its position in shares of Snowflake by 233.3% during the 4th quarter. Glassman Wealth Services now owns 80 shares of the company’s stock valued at $27,000 after purchasing an additional 56 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Capital Advisory Group Advisory Services LLC bought a new position in shares of Snowflake during the 1st quarter valued at about $30,000. Finally, Tcwp LLC bought a new position in shares of Snowflake during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 76.67% of the company’s stock.

About Snowflake (Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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