Snowflake (NYSE:SNOW) Price Target Raised to $185.00

Snowflake (NYSE:SNOW) had its target price raised by equities research analysts at KeyCorp from $150.00 to $185.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 43.28% from the company’s previous close.

Several other analysts also recently issued reports on SNOW. Evercore ISI decreased their price objective on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company lowered their target price on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Canaccord Genuity Group decreased their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, TD Cowen decreased their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.79.

Snowflake Trading Down 0.9 %

Shares of NYSE SNOW opened at $129.12 on Thursday. The stock has a market capitalization of $43.28 billion, a price-to-earnings ratio of -42.20 and a beta of 0.83. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The firm’s 50-day moving average price is $117.82 and its 200-day moving average price is $127.89.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the previous year, the business earned ($0.52) EPS. The company’s quarterly revenue was up 28.9% on a year-over-year basis. On average, equities analysts predict that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were 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 directly owns 53,250 shares in the company, valued at $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,061,544 over the last three months. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

A number of institutional investors have recently made changes to their positions in the company. LRI Investments LLC grew 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. Groupama Asset Managment acquired a new position in Snowflake during the third quarter worth about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Snowflake during the 2nd quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the 3rd quarter valued at about $30,000. Finally, Fortitude Family Office LLC purchased a new position in Snowflake in the 3rd quarter worth approximately $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.