Stifel Nicolaus Trims Snowflake (NYSE:SNOW) Target Price to $200.00

Snowflake (NYSE:SNOW) had its price objective lowered by Stifel Nicolaus from $220.00 to $200.00 in a research note issued to investors on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Oppenheimer decreased their target price on Snowflake from $240.00 to $220.00 and set an outperform rating for the company in a research report on Thursday, February 29th. Mizuho reissued a buy rating and issued a $205.00 price target (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. UBS Group raised their price target on Snowflake from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday. Monness Crespi & Hardt upgraded Snowflake from a sell rating to a neutral rating in a research report on Monday, March 18th. Finally, Bank of America lowered their price target on Snowflake from $212.00 to $200.00 and set a neutral rating on the stock in a research report on Wednesday, May 15th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $201.19.

Snowflake Trading Down 5.4 %

SNOW stock opened at $154.58 on Thursday. Snowflake has a 1 year low of $138.40 and a 1 year high of $237.72. The stock has a 50-day simple moving average of $157.04 and a 200-day simple moving average of $180.08.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. On average, research analysts expect that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the sale, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cigna Investments Inc. New increased its holdings in Snowflake by 1.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after buying an additional 51 shares during the last quarter. E&G Advisors LP boosted its position in shares of Snowflake by 3.0% in the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after purchasing an additional 51 shares during the period. Commerce Bank boosted its position in shares of Snowflake by 0.8% during the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after acquiring an additional 51 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in shares of Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after acquiring an additional 53 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Company Profile

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.