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

Snowflake (NYSE:SNOW) had its price objective boosted by UBS Group from $185.00 to $190.00 in a research report report published on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

SNOW has been the subject of several other reports. Raymond James upped their target price on Snowflake from $190.00 to $223.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Canaccord Genuity Group reiterated a buy rating and set a $230.00 target price on shares of Snowflake in a report on Thursday, February 29th. Wedbush restated a neutral rating and issued a $210.00 price target on shares of Snowflake in a report on Wednesday. Needham & Company LLC lowered their price target on shares of Snowflake from $240.00 to $210.00 and set a buy rating for the company in a research report on Thursday. Finally, KeyCorp lifted their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an overweight rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of Moderate Buy and an average target price of $200.64.

Snowflake Price Performance

SNOW stock opened at $156.16 on Thursday. Snowflake has a 12 month low of $138.40 and a 12 month high of $237.72. The firm’s 50-day moving average is $157.03 and its 200 day moving average is $180.31. The company has a market capitalization of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. Sell-side analysts forecast that Snowflake will post -1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the sale, the executive now directly owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,380 shares of company stock valued at $9,803,625. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently made changes to their positions in SNOW. Accent Capital Management LLC acquired a new stake in Snowflake during the fourth quarter valued at $25,000. LRI Investments LLC acquired a new stake in shares of Snowflake during the 1st quarter valued at about $29,000. FinTrust Capital Advisors LLC grew its position in shares of Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares during the period. Riverview Trust Co purchased a new position in shares of Snowflake in the 1st quarter valued at about $31,000. Finally, Provence Wealth Management Group acquired a new position in Snowflake in the 3rd quarter worth about $30,000. 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.