Snowflake (NYSE:SNOW) Price Target Raised to $325.00 at JMP Securities

Snowflake (NYSE:SNOW) had its price objective boosted by JMP Securities from $283.00 to $325.00 in a research report sent to investors on Tuesday, MarketBeat.com reports. They currently have a market outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird boosted their target price on Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Needham & Company LLC raised their price objective on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Scotiabank upped their target price on Snowflake from $230.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Piper Sandler upped their target price on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, JPMorgan Chase & Co. upped their target price on Snowflake from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.95.

Snowflake Price Performance

Snowflake stock opened at $267.31 on Tuesday. Snowflake has a 52 week low of $113.23 and a 52 week high of $270.94. The business has a 50-day simple moving average of $230.64 and a 200 day simple moving average of $208.03. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market cap of $90.56 billion, a price-to-earnings ratio of -64.41 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. On average, research analysts forecast that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 1,658 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total transaction of $373,464.50. Following the completion of the sale, the chief accounting officer directly owned 31,745 shares in the company, valued at $7,150,561.25. This represents a 4.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president owned 43,568 shares of the company’s stock, valued at approximately $10,892,000. This trade represents a 10.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,182,434 shares of company stock worth $270,280,661 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of SNOW. Trust Co. of Toledo NA OH purchased a new stake in Snowflake in the 2nd quarter worth approximately $25,000. Avion Wealth lifted its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the period. Tripletail Wealth Management LLC purchased a new stake in Snowflake in the 3rd quarter worth approximately $28,000. Rossby Financial LCC lifted its holdings in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in Snowflake by 4,333.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.