Snowflake (NYSE:SNOW) Price Target Raised to $200.00

Snowflake (NYSE:SNOW) had its target price raised by Morgan Stanley from $185.00 to $200.00 in a research report released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on SNOW. Rosenblatt Securities reiterated a “buy” rating and issued a $205.00 price objective on shares of Snowflake in a report on Monday, May 19th. Truist Financial cut their target price on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 31st. UBS Group boosted their target price on shares of Snowflake from $200.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday. DA Davidson cut their target price on shares of Snowflake from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Macquarie began coverage on shares of Snowflake in a research report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.33.

Snowflake Trading Down 1.6%

Shares of NYSE:SNOW opened at $199.99 on Thursday. The stock has a market capitalization of $66.02 billion, a PE ratio of -58.99 and a beta of 1.11. Snowflake has a 1 year low of $107.13 and a 1 year high of $205.40. The firm has a fifty day moving average price of $159.20 and a 200 day moving average price of $163.86. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. Snowflake’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. Analysts expect that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the completion of the sale, the director now owns 25,972 shares of the company’s stock, valued at approximately $4,363,555.72. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock valued at $58,204,058 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Snowflake by 0.5% during the first quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company’s stock valued at $7,896,000 after purchasing an additional 274 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after purchasing an additional 2,167 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Snowflake by 0.5% during the first quarter. Focus Partners Wealth now owns 99,545 shares of the company’s stock valued at $14,550,000 after purchasing an additional 460 shares during the last quarter. Finally, Integrity Alliance LLC. bought a new stake in shares of Snowflake during the first quarter valued at approximately $646,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its 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 and data products, as well as applies artificial intelligence (AI) for solving business problems.