Robert W. Baird Trims Snowflake (NYSE:SNOW) Target Price to $185.00

Snowflake (NYSE:SNOWGet Rating) had its target price cut by Robert W. Baird from $215.00 to $185.00 in a research report released on Tuesday, The Fly reports.

Several other equities research analysts also recently weighed in on SNOW. Canaccord Genuity Group boosted their target price on shares of Snowflake from $185.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, August 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Snowflake from $175.00 to $190.00 and gave the company a buy rating in a research report on Thursday, August 25th. Needham & Company LLC began coverage on shares of Snowflake in a research report on Friday, September 16th. They issued a buy rating and a $240.00 target price for the company. BTIG Research cut shares of Snowflake from a buy rating to a neutral rating in a research report on Tuesday, August 2nd. Finally, Raymond James upped their price target on shares of Snowflake from $184.00 to $197.00 in a research note on Thursday, August 25th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of Moderate Buy and an average target price of $211.97.

Snowflake Trading Up 1.6 %

Shares of SNOW stock opened at $143.36 on Tuesday. Snowflake has a 12 month low of $110.26 and a 12 month high of $378.11. The company’s fifty day moving average price is $165.24 and its two-hundred day moving average price is $155.20.

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

Insiders Place Their Bets

In other Snowflake news, CEO Frank Slootman sold 1,651 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $299,012.61. Following the completion of the transaction, the chief executive officer now owns 135,781 shares in the company, valued at approximately $24,591,296.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Teresa Briggs sold 1,224 shares of Snowflake stock in a transaction on Friday, August 26th. The shares were 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 owns 2,217 shares in the company, valued at approximately $433,933.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Slootman sold 1,651 shares of Snowflake stock in a transaction on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $299,012.61. Following the completion of the sale, the chief executive officer now owns 135,781 shares of the company’s stock, valued at approximately $24,591,296.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,599 shares of company stock worth $669,710. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

Several hedge funds have recently modified their holdings of SNOW. Comerica Bank bought a new stake in shares of Snowflake in the 1st quarter valued at $339,000. Metis Global Partners LLC bought a new stake in shares of Snowflake in the 1st quarter valued at $285,000. abrdn plc increased its stake in shares of Snowflake by 14.9% in the 1st quarter. abrdn plc now owns 28,661 shares of the company’s stock valued at $6,746,000 after acquiring an additional 3,722 shares in the last quarter. Shell Asset Management Co. grew its position in Snowflake by 1.2% in the 1st quarter. Shell Asset Management Co. now owns 7,790 shares of the company’s stock valued at $1,785,000 after purchasing an additional 95 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Snowflake by 145.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 93,801 shares of the company’s stock valued at $21,493,000 after purchasing an additional 55,561 shares during the period. Institutional investors own 66.74% of the company’s stock.

About Snowflake

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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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