Mizuho Trims Snowflake (NYSE:SNOW) Target Price to $175.00

Snowflake (NYSE:SNOW – Get Rating) had its price target reduced by Mizuho from $185.00 to $175.00 in a report published on Thursday, The Fly reports.

A number of other equities analysts also recently weighed in on the stock. Citigroup lowered their target price on shares of Snowflake from $225.00 to $202.00 and set a buy rating for the company in a research note on Friday, March 3rd. Rosenblatt Securities downgraded shares of Snowflake from a buy rating to a neutral rating and decreased their price target for the company from $188.00 to $170.00 in a research note on Thursday. Needham & Company LLC lifted their price target on shares of Snowflake from $165.00 to $180.00 and gave the company a buy rating in a research note on Thursday, March 2nd. Stifel Nicolaus raised shares of Snowflake from a hold rating to a buy rating and lifted their price target for the company from $145.00 to $185.00 in a research note on Monday, May 8th. Finally, UBS Group decreased their price target on shares of Snowflake from $170.00 to $155.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snowflake has a consensus rating of Moderate Buy and a consensus target price of $184.54.

Snowflake Trading Down 16.5 %

Shares of NYSE:SNOW opened at $147.91 on Thursday. The firm’s fifty day moving average is $151.30 and its 200-day moving average is $147.97. Snowflake has a 52 week low of $110.26 and a 52 week high of $205.66.

Snowflake (NYSE:SNOW – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). Snowflake had a negative return on equity of 14.72% and a negative net margin of 37.78%. The firm had revenue of $589.01 million for the quarter, compared to the consensus estimate of $571.57 million. As a group, equities analysts expect that Snowflake will post -1.63 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, Director John Dennis Mcmahon sold 10,053 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $139.98, for a total transaction of $1,407,218.94. Following the transaction, the director now owns 155,902 shares in the company, valued at approximately $21,823,161.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snowflake news, insider Benoit Dageville sold 13,182 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $180.00, for a total transaction of $2,372,760.00. Following the transaction, the insider now owns 43,063 shares in the company, valued at approximately $7,751,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dennis Mcmahon sold 10,053 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $139.98, for a total value of $1,407,218.94. Following the transaction, the director now owns 155,902 shares in the company, valued at approximately $21,823,161.96. The disclosure for this sale can be found here. Insiders have sold a total of 309,301 shares of company stock worth $44,133,577 in the last 90 days. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in SNOW. Verus Capital Partners LLC lifted its position in Snowflake by 1.7% in the 1st quarter. Verus Capital Partners LLC now owns 3,803 shares of the company’s stock valued at $587,000 after acquiring an additional 64 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management lifted its holdings in shares of Snowflake by 0.8% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 7,943 shares of the company’s stock valued at $1,140,000 after buying an additional 66 shares during the period. ICA Group Wealth Management LLC lifted its holdings in shares of Snowflake by 2.6% during the 3rd quarter. ICA Group Wealth Management LLC now owns 2,919 shares of the company’s stock valued at $496,000 after buying an additional 74 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Snowflake by 14.7% during the 1st quarter. Global Retirement Partners LLC now owns 600 shares of the company’s stock valued at $87,000 after buying an additional 77 shares during the period. Finally, Strategic Advisors LLC lifted its holdings in shares of Snowflake by 0.9% during the 4th quarter. Strategic Advisors LLC now owns 8,972 shares of the company’s stock valued at $1,288,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.

Snowflake Company Profile

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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.