Piper Sandler Reiterates “Overweight” Rating for Snowflake (NYSE:SNOW)

Snowflake (NYSE:SNOW)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a report released on Thursday, Benzinga reports. They presently have a $240.00 target price on the stock. Piper Sandler’s price objective would indicate a potential upside of 53.68% from the company’s current price.

Several other analysts also recently issued reports on SNOW. Raymond James boosted their target price on shares of Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Needham & Company LLC dropped their price target on shares of Snowflake from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho reaffirmed a “buy” rating and issued a $205.00 price target (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Truist Financial dropped their price target on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $182.00 to $205.00 in a research note on Thursday, February 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $200.64.

Snowflake Trading Up 1.0 %

Shares of NYSE:SNOW opened at $156.17 on Thursday. Snowflake has a one year low of $138.40 and a one year high of $237.72. The stock has a fifty day moving average of $157.03 and a 200-day moving average of $180.17.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS 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 company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. As a group, equities research analysts anticipate that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Insiders sold 62,380 shares of company stock worth $9,803,625 in the last quarter. Insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors have recently bought and sold shares of the business. Accent Capital Management LLC acquired a new stake in Snowflake during the 4th quarter worth $25,000. LRI Investments LLC acquired a new position in shares of Snowflake in the 1st quarter valued at $29,000. FinTrust Capital Advisors LLC grew its holdings in shares of Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares during the period. Riverview Trust Co acquired a new position in shares of Snowflake in the 1st quarter valued at $31,000. Finally, Provence Wealth Management Group acquired a new position in shares of Snowflake in the 3rd quarter valued at $30,000. 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.