Snowflake (NYSE:SNOW) PT Lowered to $200.00 at Barclays

Snowflake (NYSE:SNOWGet Rating) had its price target lowered by Barclays from $207.00 to $200.00 in a research report report published on Friday, The Fly reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on SNOW. Raymond James increased their price target on Snowflake from $184.00 to $197.00 in a research report on Thursday, August 25th. Moffett Nathanson began coverage on Snowflake in a report on Thursday, September 22nd. They issued a buy rating and a $242.00 target price on the stock. Piper Sandler reduced their target price on Snowflake from $220.00 to $218.00 and set an overweight rating on the stock in a report on Thursday, October 20th. Cowen raised their target price on Snowflake from $230.00 to $235.00 and gave the company an outperform rating in a report on Thursday, August 25th. Finally, Morgan Stanley reduced their target price on Snowflake from $295.00 to $274.00 and set an overweight rating on the stock in a report on Monday, August 15th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $213.49.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $146.20 on Friday. The company has a market capitalization of $46.78 billion, a P/E ratio of -67.37 and a beta of 0.86. Snowflake has a 1 year low of $110.26 and a 1 year high of $400.60. The business’s 50 day simple moving average is $166.32 and its 200 day simple moving average is $155.37.

Snowflake (NYSE:SNOWGet Rating) last issued its quarterly earnings results on Wednesday, August 24th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). The company had revenue of $497.25 million for the quarter, compared to analyst estimates of $466.03 million. Snowflake had a negative return on equity of 12.57% and a negative net margin of 41.25%. On average, sell-side analysts anticipate that Snowflake will post -2 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $131,123.64. Following the completion of the sale, the insider now directly owns 15,512 shares in the company, valued at approximately $2,809,378.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Teresa Briggs sold 1,224 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $195.73, for a total value of $239,573.52. Following the completion of the sale, the director now directly owns 2,217 shares in the company, valued at approximately $433,933.41. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 724 shares of Snowflake stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $181.11, for a total value of $131,123.64. Following the transaction, the insider now owns 15,512 shares of the company’s stock, valued at approximately $2,809,378.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,599 shares of company stock valued at $669,710. Corporate insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently added to or reduced their stakes in SNOW. BlackRock Inc. boosted its stake in Snowflake by 25.7% during the 3rd quarter. BlackRock Inc. now owns 12,567,822 shares of the company’s stock valued at $2,136,029,000 after purchasing an additional 2,569,953 shares during the last quarter. FMR LLC boosted its stake in Snowflake by 120.3% during the 2nd quarter. FMR LLC now owns 3,297,301 shares of the company’s stock valued at $458,522,000 after purchasing an additional 1,800,688 shares during the last quarter. SC US Ttgp LTD. boosted its stake in shares of Snowflake by 13.5% in the 1st quarter. SC US Ttgp LTD. now owns 13,709,218 shares of the company’s stock worth $3,141,193,000 after buying an additional 1,634,929 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Snowflake by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,293,889 shares of the company’s stock worth $2,939,269,000 after buying an additional 1,327,410 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Snowflake by 30.6% in the 3rd quarter. State Street Corp now owns 5,657,938 shares of the company’s stock worth $961,623,000 after buying an additional 1,324,033 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

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.

Further Reading

The Fly logo

Analyst Recommendations for Snowflake (NYSE:SNOW)

Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.