Snowflake (NYSE:SNOW) Price Target Raised to $160.00 at Wedbush

Snowflake (NYSE:SNOW) had its target price upped by Wedbush from $130.00 to $160.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on the company. Scotiabank dropped their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. KeyCorp lifted their target price on Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group dropped their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Monness Crespi & Hardt lifted their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Trading Up 32.5 %

NYSE:SNOW opened at $171.05 on Thursday. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The business’s 50-day moving average price is $118.98 and its two-hundred day moving average price is $128.19. The firm has a market capitalization of $57.34 billion, a price-to-earnings ratio of -55.90 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating 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 firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the prior year, the firm posted ($0.52) earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. Sell-side analysts predict that Snowflake will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 3,029 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $346,487.31. Following the completion of the transaction, the executive vice president now owns 753,464 shares of the company’s stock, valued at approximately $86,188,746.96. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value 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. This trade represents a 0.73 % 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 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in SNOW. ProShare Advisors LLC raised its stake in Snowflake by 26.1% during the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after buying an additional 295 shares during the period. Covestor Ltd raised its stake in Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after buying an additional 70 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Snowflake by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock worth $2,042,000 after buying an additional 2,191 shares during the period. UniSuper Management Pty Ltd raised its stake in Snowflake by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after buying an additional 2,000 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Snowflake by 372.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock worth $36,546,000 after buying an additional 178,253 shares during the period. 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.