Snowflake (NYSE:SNOW) Given New $170.00 Price Target at Deutsche Bank Aktiengesellschaft

Snowflake (NYSE:SNOWGet Rating) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $185.00 to $170.00 in a research report report published on Monday morning, The Fly reports.

A number of other brokerages also recently commented on SNOW. Scotiabank assumed coverage on Snowflake in a research note on Wednesday, January 18th. They issued a sector perform rating and a $125.00 target price for the company. Needham & Company LLC decreased their target price on Snowflake from $240.00 to $165.00 and set a buy rating for the company in a research note on Thursday, December 1st. Evercore ISI decreased their target price on Snowflake to $196.00 in a research note on Friday, December 2nd. StockNews.com started coverage on Snowflake in a report on Wednesday, October 12th. They set a sell rating on the stock. Finally, Cowen cut their price target on Snowflake from $235.00 to $225.00 in a report on Thursday, December 1st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of Moderate Buy and a consensus price target of $188.28.

Snowflake Price Performance

NYSE:SNOW opened at $150.30 on Monday. The business’s 50-day moving average is $142.22 and its two-hundred day moving average is $156.82. Snowflake has a 12 month low of $110.26 and a 12 month high of $329.49. The firm has a market capitalization of $48.34 billion, a PE ratio of -65.63 and a beta of 0.72.

Snowflake (NYSE:SNOWGet Rating) last announced its earnings results on Wednesday, November 30th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.14). The business had revenue of $557.03 million for the quarter, compared to analyst estimates of $535.81 million. Snowflake had a negative net margin of 38.79% and a negative return on equity of 12.98%. Equities analysts anticipate that Snowflake will post -2.08 EPS for the current year.

Insider Activity

In related news, CEO Frank Slootman sold 1,311 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $142.59, for a total value of $186,935.49. Following the sale, the chief executive officer now owns 133,011 shares of the company’s stock, valued at $18,966,038.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Frank Slootman sold 1,311 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $142.59, for a total value of $186,935.49. Following the sale, the chief executive officer now owns 133,011 shares of the company’s stock, valued at $18,966,038.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 200,000 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $151.76, for a total transaction of $30,352,000.00. Following the completion of the sale, the chief financial officer now directly owns 101,097 shares in the company, valued at approximately $15,342,480.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,035 shares of company stock valued at $30,642,171. Insiders own 8.90% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently added to or reduced their stakes in SNOW. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Snowflake by 1,800.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 190 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Bogart Wealth LLC lifted its holdings in Snowflake by 6,433.3% in the second quarter. Bogart Wealth LLC now owns 196 shares of the company’s stock valued at $27,000 after buying an additional 193 shares during the period. Accurate Wealth Management LLC acquired a new position in Snowflake in the fourth quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new position in Snowflake in the second quarter valued at approximately $28,000. Finally, Ronald Blue Trust Inc. lifted its holdings in Snowflake by 41.4% in the third quarter. Ronald Blue Trust Inc. now owns 198 shares of the company’s stock valued at $28,000 after buying an additional 58 shares during the period. 65.31% of the stock is owned by institutional investors.

Snowflake Company Profile

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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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