Snowflake (NYSE:SNOW) Given New $190.00 Price Target at Deutsche Bank Aktiengesellschaft

Snowflake (NYSE:SNOW) had its price target upped by investment analysts at Deutsche Bank Aktiengesellschaft from $180.00 to $190.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 11.82% from the company’s previous close.

Several other research firms have also recently issued reports on SNOW. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday. Barclays boosted their price objective on shares of Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday. TD Cowen raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Argus began coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.23.

Snowflake Stock Performance

Shares of NYSE SNOW traded up $40.80 during mid-day trading on Thursday, hitting $169.92. The stock had a trading volume of 26,946,754 shares, compared to its average volume of 6,591,476. The firm has a market cap of $56.96 billion, a P/E ratio of -55.53 and a beta of 0.83. The business has a 50 day moving average price of $117.82 and a two-hundred day moving average price of $127.89. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the firm earned ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. Equities research analysts predict that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the sale, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. increased its holdings in Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock valued at $1,438,000 after acquiring an additional 3,971 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Snowflake by 10.9% during the third quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock valued at $222,000 after buying an additional 190 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Snowflake by 2.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock worth $636,000 after acquiring an additional 142 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the period. Finally, Shaolin Capital Management LLC bought a new position in Snowflake in the 3rd quarter valued at $345,000. 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.