Snowflake (NYSE:SNOW) Price Target Raised to $190.00

Snowflake (NYSE:SNOW) had its price objective increased by Evercore ISI from $170.00 to $190.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on SNOW. Canaccord Genuity Group lowered their price target on Snowflake from $215.00 to $190.00 and set a “buy” 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 stock an “overweight” rating in a report on Thursday. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Bank of America lowered their price objective on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, DA Davidson reissued a “buy” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, October 3rd. One 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Stock Down 2.3 %

Shares of SNOW opened at $167.44 on Thursday. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market capitalization of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. The firm has a 50-day moving average price of $120.06 and a 200 day moving average price of $128.00.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 22.01%. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the firm posted ($0.52) earnings per share. The business’s revenue was up 28.9% on a year-over-year basis. On average, equities analysts expect that Snowflake will post -2.41 EPS for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction 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 completion of the transaction, the insider now owns 53,250 shares in the company, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,538 shares of company stock worth $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in SNOW. LRI Investments LLC lifted its position in shares of Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of Snowflake during the third quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the third quarter worth $30,000. Finally, Fortitude Family Office LLC bought a new position in Snowflake during the third quarter worth $34,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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.