Snowflake (NYSE:SNOW) PT Lowered to $188.00

Snowflake (NYSE:SNOW – Get Rating) had its price objective cut by stock analysts at Rosenblatt Securities from $200.00 to $188.00 in a report issued on Friday, The Fly reports. Rosenblatt Securities’ price objective would indicate a potential upside of 32.29% from the stock’s previous close.

A number of other research firms have also issued reports on SNOW. Cowen reduced their target price on shares of Snowflake from $235.00 to $225.00 in a report on Thursday, December 1st. JMP Securities reaffirmed a “market outperform” rating and set a $215.00 price objective on shares of Snowflake in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Snowflake from $248.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, December 1st. Wedbush began coverage on shares of Snowflake in a research note on Wednesday, December 14th. They set a “neutral” rating and a $144.00 price objective for the company. Finally, Citigroup upped their price objective on shares of Snowflake from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $187.75.

Snowflake Trading Up 5.0 %

NYSE:SNOW opened at $142.11 on Friday. The firm has a market cap of $45.70 billion, a price-to-earnings ratio of -56.84 and a beta of 0.75. The company’s 50-day moving average is $148.98 and its two-hundred day moving average is $157.12. Snowflake has a 12-month low of $110.26 and a 12-month high of $246.52.

Snowflake (NYSE:SNOW – Get Rating) last released its earnings results on Wednesday, November 30th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.14). The firm had revenue of $557.03 million during the quarter, compared to analysts’ expectations of $535.81 million. Snowflake had a negative net margin of 38.57% and a negative return on equity of 13.89%. On average, equities research analysts forecast that Snowflake will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 1,311 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $142.59, for a total transaction of $186,935.49. Following the transaction, the chief executive officer now directly owns 133,011 shares in the company, valued at $18,966,038.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Frank Slootman sold 1,311 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $142.59, for a total transaction of $186,935.49. Following the transaction, the chief executive officer now directly owns 133,011 shares in the company, valued at $18,966,038.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 724 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $142.59, for a total value of $103,235.16. Following the completion of the sale, the insider now directly owns 14,404 shares in the company, valued at $2,053,866.36. The disclosure for this sale can be found here. Insiders have sold 202,035 shares of company stock worth $30,642,171 over the last ninety days. 8.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its position in Snowflake by 25.4% in the fourth quarter. Voya Investment Management LLC now owns 571,538 shares of the company’s stock worth $82,039,000 after buying an additional 115,738 shares during the period. Harvey Capital Management Inc. acquired a new stake in Snowflake in the fourth quarter worth $359,000. Cravens & Co Advisors LLC acquired a new position in shares of Snowflake during the fourth quarter valued at $355,000. SRS Capital Advisors Inc. acquired a new position in shares of Snowflake during the fourth quarter valued at $61,000. Finally, Garde Capital Inc. increased its holdings in shares of Snowflake by 33.3% during the fourth quarter. Garde Capital Inc. now owns 1,325 shares of the company’s stock valued at $190,000 after purchasing an additional 331 shares during the period. 65.31% of the stock is owned by institutional investors and hedge funds.

About Snowflake

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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.