Snowflake (NYSE:SNOW) Price Target Cut to $180.00

Snowflake (NYSE:SNOW – Get Rating) had its price target decreased by investment analysts at Stifel Nicolaus from $185.00 to $180.00 in a research note issued on Thursday, The Fly reports. Stifel Nicolaus’ price target would suggest a potential upside of 19.99% from the company’s previous close.

A number of other brokerages have also issued reports on SNOW. UBS Group lowered their price target on Snowflake from $170.00 to $155.00 in a research note on Thursday. Wells Fargo & Company lifted their price objective on Snowflake from $170.00 to $200.00 in a research report on Tuesday. Robert W. Baird reduced their price objective on Snowflake from $185.00 to $180.00 in a research report on Thursday, March 2nd. Morgan Stanley reduced their price objective on Snowflake from $225.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, March 3rd. Finally, Needham & Company LLC lifted their price objective on Snowflake from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $183.17.

Snowflake Trading Up 1.4 %

Shares of SNOW opened at $150.01 on Thursday. Snowflake has a 12 month low of $110.26 and a 12 month high of $205.66. The stock’s 50 day moving average is $151.59 and its two-hundred day moving average is $148.12. The firm has a market cap of $48.75 billion, a P/E ratio of -56.18 and a beta of 0.74.

Snowflake (NYSE:SNOW – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.12). The business had revenue of $589.01 million during the quarter, compared to analyst estimates of $571.57 million. Snowflake had a negative net margin of 37.78% and a negative return on equity of 14.72%. Equities research analysts forecast that Snowflake will post -1.63 EPS for the current year.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 60,827 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $136.26, for a total transaction of $8,288,287.02. Following the completion of the transaction, the insider now directly owns 43,063 shares of the company’s stock, valued at approximately $5,867,764.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Benoit Dageville sold 60,827 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $136.26, for a total value of $8,288,287.02. Following the sale, the insider now owns 43,063 shares in the company, valued at approximately $5,867,764.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Dennis Mcmahon sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $142.65, for a total value of $142,650.00. Following the completion of the sale, the director now owns 154,902 shares in the company, valued at approximately $22,096,770.30. The disclosure for this sale can be found here. In the last three months, insiders sold 309,301 shares of company stock valued at $44,133,577. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently bought and sold shares of the stock. Seaport Global Advisors LLC grew its holdings in Snowflake by 14.2% during the 1st quarter. Seaport Global Advisors LLC now owns 1,358 shares of the company’s stock valued at $210,000 after buying an additional 169 shares during the last quarter. Toroso Investments LLC grew its holdings in Snowflake by 1.2% during the 1st quarter. Toroso Investments LLC now owns 6,928 shares of the company’s stock valued at $1,069,000 after buying an additional 85 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Snowflake by 52.4% during the 1st quarter. Ameriprise Financial Inc. now owns 515,855 shares of the company’s stock valued at $79,557,000 after buying an additional 177,400 shares during the last quarter. Titleist Asset Management LLC acquired a new stake in Snowflake during the 1st quarter valued at $607,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Snowflake by 54.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,564 shares of the company’s stock valued at $1,167,000 after buying an additional 2,677 shares during the last quarter. Institutional investors and hedge funds 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.