Snowflake (NYSE:SNOW) Price Target Raised to $250.00 at Macquarie

Snowflake (NYSE:SNOW) had its target price hoisted by Macquarie from $235.00 to $250.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. BTIG Research reissued a “buy” rating and set a $312.00 price objective on shares of Snowflake in a research report on Thursday. Mizuho upped their price target on Snowflake from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Rosenblatt Securities increased their price target on Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Monday. Evercore ISI raised their price objective on Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird upped their target price on Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $275.05.

Snowflake Stock Performance

NYSE:SNOW opened at $234.49 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake has a twelve month low of $120.10 and a twelve month high of $280.67. The company has a fifty day moving average of $251.24 and a 200-day moving average of $225.91. The firm has a market capitalization of $79.45 billion, a P/E ratio of -58.04 and a beta of 1.09.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 43.84%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm earned $0.20 earnings per share. Snowflake’s revenue was up 28.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Snowflake will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 7,551 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. The trade was a 4.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 170,564 shares of company stock worth $41,676,989 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SNOW. Total Clarity Wealth Management Inc. grew its position in Snowflake by 2.7% in the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock worth $340,000 after purchasing an additional 40 shares in the last quarter. Diligent Investors LLC lifted its position in shares of Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after buying an additional 40 shares in the last quarter. Coastline Trust Co boosted its stake in shares of Snowflake by 1.0% in the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock worth $943,000 after buying an additional 42 shares during the last quarter. Capital Advantage Inc. grew its holdings in shares of Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of Snowflake by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

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.