Snowflake (NYSE:SNOW) Given New $185.00 Price Target at JPMorgan Chase & Co.

Snowflake (NYSE:SNOW) had its price target raised by JPMorgan Chase & Co. from $170.00 to $185.00 in a report issued on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

SNOW has been the subject of several other research reports. Piper Sandler reaffirmed an overweight rating and set a $240.00 price target on shares of Snowflake in a research note on Thursday. Royal Bank of Canada decreased their target price on Snowflake from $246.00 to $220.00 and set an outperform rating for the company in a research report on Monday. Morgan Stanley reissued an equal weight rating and set a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Oppenheimer lowered their price objective on shares of Snowflake from $240.00 to $220.00 and set an outperform rating for the company in a research note on Thursday, February 29th. Finally, Macquarie raised shares of Snowflake from a neutral rating to an outperform rating and raised their target price for the company from $182.00 to $205.00 in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Snowflake currently has an average rating of Moderate Buy and an average target price of $201.19.

Snowflake Price Performance

Shares of NYSE SNOW opened at $154.58 on Thursday. Snowflake has a 1 year low of $138.40 and a 1 year high of $237.72. The firm has a 50-day simple moving average of $157.04 and a two-hundred day simple moving average of $180.08.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. On average, sell-side analysts expect that Snowflake will post -1.83 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The disclosure for this sale can be found here. Insiders sold a total of 62,380 shares of company stock worth $9,803,625 over the last three months. 8.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Cigna Investments Inc. New grew its position in shares of Snowflake by 1.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after acquiring an additional 51 shares during the period. E&G Advisors LP boosted its position in Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after purchasing an additional 51 shares in the last quarter. Commerce Bank grew its holdings in Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after purchasing an additional 51 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after buying an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its 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 and data products, as well as applies artificial intelligence (AI) for solving business problems.