Snowflake (NYSE:SNOW) PT Lowered to $180.00

Snowflake (NYSE:SNOWGet Rating) had its price target lowered by investment analysts at UBS Group from $260.00 to $180.00 in a research report issued to clients and investors on Monday, The Fly reports. UBS Group’s price target would indicate a potential upside of 27.22% from the stock’s current price.

Several other brokerages have also issued reports on SNOW. Morgan Stanley cut their price objective on shares of Snowflake from $355.00 to $322.00 and set an “overweight” rating on the stock in a report on Thursday. Wolfe Research started coverage on shares of Snowflake in a research note on Monday, April 25th. They issued an “outperform” rating and a $250.00 target price for the company. Cowen lowered their target price on shares of Snowflake from $450.00 to $410.00 and set an “outperform” rating for the company in a research note on Monday, February 28th. Jefferies Financial Group lowered their target price on shares of Snowflake from $300.00 to $230.00 and set a “hold” rating for the company in a research note on Thursday, March 3rd. Finally, StockNews.com started coverage on shares of Snowflake in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $290.79.

Shares of SNOW stock opened at $141.49 on Monday. The firm has a market cap of $44.51 billion, a price-to-earnings ratio of -62.06 and a beta of 1.80. The company’s 50 day moving average is $191.10 and its 200 day moving average is $267.57. Snowflake has a 52-week low of $126.01 and a 52-week high of $405.00.

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

In other Snowflake news, Director Michael L. Speiser sold 750,000 shares of Snowflake stock in a transaction on Friday, March 18th. The shares were sold at an average price of $222.18, for a total value of $166,635,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in Snowflake by 13.1% in the third quarter. Morgan Stanley now owns 16,843,131 shares of the company’s stock valued at $5,093,868,000 after buying an additional 1,944,885 shares in the last quarter. SC US Ttgp LTD. increased its stake in shares of Snowflake by 13.5% during the first quarter. SC US Ttgp LTD. now owns 13,709,218 shares of the company’s stock worth $3,141,193,000 after purchasing an additional 1,634,929 shares in the last quarter. BlackRock Inc. increased its stake in shares of Snowflake by 18.2% during the first quarter. BlackRock Inc. now owns 11,379,286 shares of the company’s stock worth $2,607,336,000 after purchasing an additional 1,751,250 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Snowflake by 4.5% during the first quarter. Capital Research Global Investors now owns 7,122,568 shares of the company’s stock worth $1,632,004,000 after purchasing an additional 306,258 shares in the last quarter. Finally, Tiger Global Management LLC increased its stake in shares of Snowflake by 13.6% during the first quarter. Tiger Global Management LLC now owns 6,841,769 shares of the company’s stock worth $1,567,655,000 after purchasing an additional 821,100 shares in the last quarter. 76.67% of the stock is owned by institutional investors.

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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