Analysts Set Snowflake Inc. (NYSE:SNOW) Target Price at $197.31

Snowflake Inc. (NYSE:SNOW) has been assigned an average recommendation of “Moderate Buy” from the thirty-five ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $197.31.

SNOW has been the subject of several recent analyst reports. KeyCorp increased their price objective on Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. JMP Securities reissued a “market outperform” rating and issued a $235.00 price objective on shares of Snowflake in a research report on Tuesday, June 4th. Macquarie dropped their target price on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. UBS Group lifted their price target on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Finally, StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the sale, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the transaction, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 533,460 shares of company stock valued at $66,963,450. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. LRI Investments LLC increased its holdings in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its holdings in Snowflake by 18.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 3,370 shares of the company’s stock worth $455,000 after purchasing an additional 514 shares in the last quarter. Slow Capital Inc. raised its position in Snowflake by 25.6% in the second quarter. Slow Capital Inc. now owns 31,387 shares of the company’s stock valued at $4,240,000 after purchasing an additional 6,392 shares during the last quarter. Once Capital Management LLC boosted its stake in shares of Snowflake by 17.1% during the second quarter. Once Capital Management LLC now owns 41,000 shares of the company’s stock valued at $5,539,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Nicholas Company Inc. bought a new stake in shares of Snowflake during the second quarter worth about $26,634,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $125.62 on Thursday. The company’s 50-day moving average price is $138.32 and its two-hundred day moving average price is $165.80. Snowflake has a one year low of $122.60 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The company had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. As a group, equities analysts predict that Snowflake will post -2.28 EPS for the current year.

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.