Snowflake (NYSE:SNOW) PT Raised to $200.00

Snowflake (NYSE:SNOW) had its target price hoisted by KeyCorp from $185.00 to $200.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on SNOW. Monness Crespi & Hardt upgraded shares of Snowflake from a sell rating to a neutral rating in a report on Monday, March 18th. Piper Sandler reiterated an overweight rating and issued a $250.00 price target on shares of Snowflake in a report on Tuesday, February 27th. Stifel Nicolaus cut their price target on shares of Snowflake from $235.00 to $220.00 and set a buy rating on the stock in a report on Thursday, February 29th. Mizuho reiterated 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. Finally, Royal Bank of Canada cut their price target on shares of Snowflake from $246.00 to $220.00 and set an outperform rating on the stock in a report on Monday, May 20th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Snowflake has an average rating of Moderate Buy and a consensus price target of $200.64.

Snowflake Stock Up 1.0 %

SNOW opened at $156.16 on Thursday. Snowflake has a 52-week low of $138.40 and a 52-week high of $237.72. The company has a market cap of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. The firm’s 50-day moving average price is $157.03 and its 200-day moving average price is $180.46.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares in the company, valued at approximately $4,457,133.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snowflake news, CAO Emily Ho sold 1,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now directly owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,380 shares of company stock worth $9,803,625. Corporate insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Accent Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $25,000. LRI Investments LLC acquired a new stake in shares of Snowflake in the 1st quarter worth $29,000. FinTrust Capital Advisors LLC increased its stake in shares of Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after acquiring an additional 128 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Snowflake during the 1st quarter worth about $31,000. Finally, Provence Wealth Management Group acquired a new stake in shares of Snowflake during the 3rd quarter worth about $30,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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.