Snowflake (NYSE:SNOW) Given New $210.00 Price Target at Macquarie

Snowflake (NYSE:SNOW) had its target price lifted by Macquarie from $190.00 to $210.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley reissued an “equal weight” rating on shares of Snowflake in a research note on Thursday, May 22nd. BTIG Research reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Raymond James reissued an “outperform” rating and set a $212.00 price objective (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Jefferies Financial Group raised their price objective on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Needham & Company LLC lifted their target price on Snowflake from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.28.

Snowflake Stock Up 0.1%

Shares of SNOW stock opened at $209.44 on Wednesday. The stock has a market cap of $69.92 billion, a P/E ratio of -61.78 and a beta of 1.21. Snowflake has a 52 week low of $107.13 and a 52 week high of $214.83. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $166.87 and its two-hundred day simple moving average is $168.02.

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

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 7,016 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $1,092,321.04. Following the completion of the sale, the director now directly owns 182,999 shares in the company, valued at $28,491,114.31. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the completion of the transaction, the executive vice president now directly owns 570,632 shares in the company, valued at $117,361,883.44. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock worth $159,318,643 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the first quarter worth $26,000. Stonebridge Financial Group LLC purchased a new position in Snowflake in the 4th quarter worth $29,000. CVA Family Office LLC lifted its position in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. acquired a new stake in Snowflake during the 4th quarter worth about $31,000. Finally, Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors 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.