Snowflake (NYSE:SNOW) Price Target Lowered to $248.00 at Morgan Stanley

Snowflake (NYSE:SNOWGet Rating) had its target price trimmed by Morgan Stanley from $274.00 to $248.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on the company. Loop Capital upped their target price on Snowflake from $180.00 to $210.00 in a report on Thursday, August 25th. Cowen boosted their price target on Snowflake from $230.00 to $235.00 and gave the stock an outperform rating in a research report on Thursday, August 25th. StockNews.com started coverage on Snowflake in a research report on Wednesday, October 12th. They issued a sell rating on the stock. Truist Financial dropped their price target on Snowflake from $225.00 to $200.00 in a research report on Tuesday, November 8th. Finally, Piper Sandler dropped their price target on Snowflake from $220.00 to $218.00 and set an overweight rating on the stock in a research report on Thursday, October 20th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Snowflake presently has an average rating of Moderate Buy and an average price target of $211.97.

Snowflake Stock Performance

SNOW stock opened at $146.45 on Monday. Snowflake has a fifty-two week low of $110.26 and a fifty-two week high of $378.11. The business’s 50 day moving average price is $163.33 and its two-hundred day moving average price is $155.05. The company has a market capitalization of $46.86 billion, a price-to-earnings ratio of -67.49 and a beta of 0.86.

Snowflake (NYSE:SNOWGet Rating) last posted its earnings results on Wednesday, August 24th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). Snowflake had a negative return on equity of 12.57% and a negative net margin of 41.25%. The firm had revenue of $497.25 million for the quarter, compared to analysts’ expectations of $466.03 million. Sell-side analysts forecast that Snowflake will post -2 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, CEO Frank Slootman sold 1,651 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $299,012.61. Following the completion of the sale, the chief executive officer now directly owns 135,781 shares in the company, valued at approximately $24,591,296.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Snowflake news, insider Benoit Dageville sold 724 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $131,123.64. Following the completion of the sale, the insider now owns 15,512 shares in the company, valued at approximately $2,809,378.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank Slootman sold 1,651 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $299,012.61. Following the completion of the sale, the chief executive officer now owns 135,781 shares of the company’s stock, valued at approximately $24,591,296.91. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently bought and sold shares of the business. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Tcwp LLC purchased a new stake in Snowflake in the 1st quarter worth $30,000. Ronald Blue Trust Inc. purchased a new stake in Snowflake in the 2nd quarter worth $32,000. Geneos Wealth Management Inc. increased its stake in Snowflake by 822.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after buying an additional 148 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Snowflake by 1,800.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 190 shares of the company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

About Snowflake

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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