Snowflake (NYSE:SNOW) Given New $250.00 Price Target at UBS Group

Snowflake (NYSE:SNOW) had its target price lowered by UBS Group from $265.00 to $250.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Snowflake in a research report on Tuesday, June 24th. Evercore ISI reaffirmed a “buy” rating on shares of Snowflake in a research report on Wednesday, June 4th. Barclays reaffirmed an “overweight” rating and issued a $219.00 price target (up from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Stephens began coverage on Snowflake in a research report on Friday, July 18th. They issued an “overweight” rating and a $261.00 price target on the stock. Finally, JMP Securities raised their price target on Snowflake from $245.00 to $260.00 and gave the company a “market outperform” rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.32.

Snowflake Trading Up 2.0%

Snowflake stock opened at $196.91 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $65.74 billion, a price-to-earnings ratio of -46.77 and a beta of 1.22. Snowflake has a one year low of $107.13 and a one year high of $229.27. The company’s fifty day moving average price is $213.04 and its two-hundred day moving average price is $184.30.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. On average, analysts forecast that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, August 1st. The shares were sold at an average price of $208.69, for a total transaction of $84,102.07. Following the transaction, the director directly owned 26,136 shares of the company’s stock, valued at $5,454,321.84. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 256,046 shares of Snowflake stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $227.15, for a total transaction of $58,160,848.90. Following the transaction, the director directly owned 165,507 shares in the company, valued at approximately $37,594,915.05. This represents a 60.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,014,642 shares of company stock worth $657,325,186 over the last quarter. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Advantage Inc. boosted its position in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after purchasing an additional 48 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Snowflake by 1.3% during the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth boosted its position in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares in the last quarter. Insigneo Advisory Services LLC boosted its position in shares of Snowflake by 1.3% during the second quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock worth $896,000 after purchasing an additional 52 shares in the last quarter. Finally, Advyzon Investment Management LLC boosted its position in shares of Snowflake by 3.8% during the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock worth $340,000 after purchasing an additional 55 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Company Profile

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.