Snowflake (NYSE:SNOW) Price Target Raised to $188.00

Snowflake (NYSE:SNOW) had its price target lifted by Monness Crespi & Hardt from $140.00 to $188.00 in a report released on Thursday, Marketbeat Ratings reports. Monness Crespi & Hardt currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Bank of America reduced their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Citigroup reduced their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Scotiabank dropped their target price 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. Wedbush raised Snowflake to a “hold” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus decreased their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Trading Down 2.3 %

Snowflake stock opened at $167.44 on Thursday. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. The stock has a 50 day moving average of $120.06 and a two-hundred day moving average of $128.00. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC raised its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Groupama Asset Managment acquired a new stake in Snowflake in the third quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in Snowflake during the 2nd quarter valued at $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake during the 3rd quarter worth $30,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Snowflake in the 3rd quarter worth about $34,000. 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.