UBS Group Lowers Snowflake (NYSE:SNOW) Price Target to $155.00

Snowflake (NYSE:SNOW) had its price objective reduced by investment analysts at UBS Group from $171.00 to $155.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 17.50% from the stock’s previous close.

A number of other brokerages have also recently weighed in on SNOW. JPMorgan Chase & Co. upped their price target on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Wells Fargo & Company lowered shares of Snowflake from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $200.00 to $130.00 in a report on Thursday, August 15th. Robert W. Baird cut their price target on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Royal Bank of Canada decreased their price objective on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Macquarie dropped their price objective on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $188.21.

Snowflake Stock Performance

NYSE:SNOW opened at $131.91 on Monday. The company has a market capitalization of $44.16 billion, a price-to-earnings ratio of -47.11 and a beta of 0.85. The company has a 50-day moving average of $130.08 and a 200-day moving average of $155.73. Snowflake has a 52 week low of $107.93 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Sell-side analysts forecast that Snowflake will post -2.31 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 534,178 shares of company stock worth $66,520,575. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNOW. Comerica Bank raised its holdings in shares of Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after acquiring an additional 4,296 shares during the period. Choreo LLC raised its stake in shares of Snowflake by 18.6% in the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after purchasing an additional 1,294 shares during the period. Trexquant Investment LP lifted its holdings in shares of Snowflake by 266.3% in the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after purchasing an additional 7,633 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Snowflake during the first quarter worth about $244,000. Finally, Cetera Investment Advisers boosted its position in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares during the period. Institutional investors 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.