UBS Group Cuts Snowflake (NYSE:SNOW) Price Target to $125.00

Snowflake (NYSE:SNOW) had its target price lowered by research analysts at UBS Group from $155.00 to $125.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 11.00% from the stock’s previous close.

A number of other analysts have also recently weighed in on SNOW. DA Davidson lowered their price target on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and raised their target price for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Scotiabank reduced their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Royal Bank of Canada decreased their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Finally, Jefferies Financial Group dropped their target price on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.17.

Snowflake Stock Up 0.1 %

Shares of NYSE:SNOW opened at $112.61 on Tuesday. The firm has a 50 day moving average of $119.99 and a 200 day moving average of $138.43. The company has a market capitalization of $37.75 billion, a price-to-earnings ratio of -40.76 and a beta of 0.83. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period in the previous year, the company posted ($0.52) EPS. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, sell-side analysts expect that Snowflake will post -2.41 EPS for the current year.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the sale, the executive vice president now directly owns 733,773 shares of the company’s stock, valued at $104,914,863.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, insider Benoit Dageville sold 287 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares in the company, valued at $5,932,582.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the completion of the sale, the executive vice president now owns 733,773 shares of the company’s stock, valued at $104,914,863.54. The disclosure for this sale can be found here. Insiders sold a total of 45,386 shares of company stock valued at $5,715,941 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. lifted its holdings in Snowflake by 76.8% during the second quarter. Centaurus Financial Inc. now owns 6,577 shares of the company’s stock valued at $888,000 after purchasing an additional 2,856 shares in the last quarter. Cavalry Management Group LLC purchased a new stake in shares of Snowflake during the second quarter worth about $430,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Snowflake by 5,565.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 121,800 shares of the company’s stock worth $16,454,000 after purchasing an additional 119,650 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Snowflake by 27.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock valued at $451,000 after buying an additional 722 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in Snowflake in the 2nd quarter worth about $530,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.