Snowflake (NYSE:SNOW – Get Rating) had its price objective lowered by analysts at Stifel Nicolaus from $240.00 to $120.00 in a note issued to investors on Thursday, The Fly reports. Stifel Nicolaus’ price objective would indicate a potential downside of 9.62% from the stock’s current price.
Several other equities analysts also recently commented on SNOW. Jefferies Financial Group lowered their price objective on Snowflake from $230.00 to $150.00 in a research report on Monday. BTIG Research lowered their price objective on Snowflake from $359.00 to $183.00 and set a “buy” rating on the stock in a research report on Tuesday. Evercore ISI lowered their price objective on Snowflake from $400.00 to $344.00 in a research report on Thursday, March 3rd. Citigroup reduced their target price on Snowflake from $232.00 to $175.00 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Snowflake from $300.00 to $175.00 in a report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $241.96.
NYSE SNOW opened at $132.77 on Thursday. The company has a market capitalization of $41.77 billion, a PE ratio of -58.23 and a beta of 1.80. The business’s fifty day moving average is $187.58 and its 200 day moving average is $264.11. Snowflake has a fifty-two week low of $125.77 and a fifty-two week high of $405.00.
In other Snowflake news, Director Michael L. Speiser sold 750,000 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $222.18, for a total value of $166,635,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 11.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of SNOW. Advisory Services Network LLC lifted its position in shares of Snowflake by 18.8% during the 1st quarter. Advisory Services Network LLC now owns 7,144 shares of the company’s stock worth $1,636,000 after purchasing an additional 1,129 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Snowflake by 76.7% during the 1st quarter. Neuberger Berman Group LLC now owns 728,744 shares of the company’s stock worth $166,977,000 after purchasing an additional 316,362 shares during the last quarter. Toroso Investments LLC lifted its position in shares of Snowflake by 39.8% during the 1st quarter. Toroso Investments LLC now owns 7,304 shares of the company’s stock worth $1,674,000 after purchasing an additional 2,078 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Snowflake by 4.5% during the 1st quarter. Capital Research Global Investors now owns 7,122,568 shares of the company’s stock worth $1,632,004,000 after purchasing an additional 306,258 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Snowflake by 7.0% during the 1st quarter. Gabelli Funds LLC now owns 90,155 shares of the company’s stock worth $20,657,000 after purchasing an additional 5,868 shares during the last quarter. 76.67% of the stock is owned by institutional investors.
About Snowflake (Get Rating)
Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
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