Barclays Boosts Snowflake (NYSE:SNOW) Price Target to $172.00

Snowflake (NYSE:SNOW) had its price target boosted by Barclays from $142.00 to $172.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 2.70% from the stock’s previous close.

SNOW has been the subject of several other research reports. Robert W. Baird decreased their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. DA Davidson reiterated a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Loop Capital cut their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Scotiabank decreased their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Citigroup cut their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Price Performance

Shares of NYSE SNOW opened at $167.48 on Thursday. The company has a 50-day moving average price of $120.06 and a 200-day moving average price of $128.22. The stock has a market capitalization of $56.14 billion, a P/E ratio of -54.73 and a beta of 0.83. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.52) EPS. As a group, equities research analysts anticipate that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board boosted its position in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Swedbank AB purchased a new stake in Snowflake in the first quarter valued at approximately $258,957,000. Two Sigma Advisers LP lifted its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. AQR Capital Management LLC grew its stake in Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after buying an additional 660,168 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after buying an additional 628,511 shares during the last quarter. 65.10% of the stock is currently owned by 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.