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

Snowflake (NYSE:SNOW) had its price target lifted by TD Cowen from $180.00 to $190.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Robert W. Baird lowered their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Needham & Company LLC increased their price target on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Price Performance

SNOW stock opened at $167.44 on Thursday. Snowflake has a 12 month low of $107.13 and a 12 month 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 company’s 50 day simple moving average is $120.06 and its 200-day simple moving average is $128.00.

Snowflake (NYSE:SNOW) last released 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. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the business posted ($0.52) earnings per share. Snowflake’s revenue was up 28.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 558 shares of the business’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 completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 in the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of Snowflake during the first quarter worth $29,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake during the second quarter worth about $27,000. Groupama Asset Managment bought a new position in Snowflake in the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the third quarter valued at approximately $30,000. Finally, Global Financial Private Client LLC bought a new position in shares of Snowflake during the first quarter valued at approximately $44,000. Institutional investors and hedge funds 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.