Snowflake (NYSE:SNOW) Given New $230.00 Price Target at Oppenheimer

Snowflake (NYSE:SNOWGet Rating) had its target price cut by equities research analysts at Oppenheimer from $280.00 to $230.00 in a report released on Thursday, The Fly reports. Oppenheimer’s price target would indicate a potential upside of 73.23% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Credit Suisse Group reduced their target price on Snowflake from $465.00 to $415.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. Cowen cut their price target on Snowflake from $390.00 to $280.00 in a report on Monday. Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and cut their price target for the company from $325.00 to $255.00 in a report on Tuesday. The Goldman Sachs Group cut their price target on Snowflake from $335.00 to $289.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Finally, Sumitomo Mitsui Financial Group assumed coverage on Snowflake in a report on Friday, April 1st. They issued a “neutral” rating and a $253.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $255.57.

Shares of Snowflake stock opened at $132.77 on Thursday. The business has a 50 day simple moving average of $187.58 and a two-hundred day simple moving average of $264.11. Snowflake has a 12 month low of $125.77 and a 12 month high of $405.00. The stock has a market capitalization of $41.77 billion, a P/E ratio of -58.23 and a beta of 1.80.

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

In other news, Director Michael L. Speiser sold 750,000 shares of Snowflake 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 11.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley increased its position in Snowflake by 13.1% in the 3rd quarter. Morgan Stanley now owns 16,843,131 shares of the company’s stock valued at $5,093,868,000 after acquiring an additional 1,944,885 shares during the period. SC US Ttgp LTD. increased its position in Snowflake by 13.5% in the 1st quarter. SC US Ttgp LTD. now owns 13,709,218 shares of the company’s stock valued at $3,141,193,000 after acquiring an additional 1,634,929 shares during the period. BlackRock Inc. increased its position in Snowflake by 18.2% in the 1st quarter. BlackRock Inc. now owns 11,379,286 shares of the company’s stock valued at $2,607,336,000 after acquiring an additional 1,751,250 shares during the period. Capital Research Global Investors increased its position in Snowflake by 4.5% in the 1st quarter. Capital Research Global Investors now owns 7,122,568 shares of the company’s stock valued at $1,632,004,000 after acquiring an additional 306,258 shares during the period. Finally, Tiger Global Management LLC increased its position in Snowflake by 13.6% in the 1st quarter. Tiger Global Management LLC now owns 6,841,769 shares of the company’s stock valued at $1,567,655,000 after acquiring an additional 821,100 shares during the period. Institutional investors and hedge funds own 76.67% of the company’s stock.

Snowflake Company Profile (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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