Snowflake (NYSE:SNOW) PT Raised to $191.00

Snowflake (NYSE:SNOW) had its price objective increased by Barclays from $188.00 to $191.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group reaffirmed a buy rating and issued a $230.00 price target on shares of Snowflake in a report on Thursday, February 29th. HSBC reaffirmed a reduce rating on shares of Snowflake in a research report on Thursday, February 29th. Stifel Nicolaus dropped their price target on Snowflake from $220.00 to $200.00 and set a buy rating on the stock in a research note on Thursday. Citigroup decreased their price objective on shares of Snowflake from $290.00 to $240.00 and set a buy rating for the company in a research report on Monday, March 4th. Finally, BNP Paribas raised shares of Snowflake from a neutral rating to an outperform rating and set a $200.00 target price on the stock in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of Moderate Buy and an average price target of $201.19.

Snowflake Stock Down 5.4 %

Shares of NYSE SNOW opened at $154.58 on Thursday. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72. The business has a fifty day simple moving average of $157.04 and a two-hundred day simple moving average of $180.08.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. As a group, sell-side analysts expect that Snowflake will post -1.83 EPS for the current year.

Insider Activity

In related news, Director Mark D. Mclaughlin acquired 3,030 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $165.45 per share, for a total transaction of $501,313.50. Following the completion of the acquisition, the director now directly owns 11,687 shares of the company’s stock, valued at approximately $1,933,614.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Snowflake news, Director Mark D. Mclaughlin bought 3,030 shares of Snowflake stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $165.45 per share, for a total transaction of $501,313.50. Following the completion of the acquisition, the director now owns 11,687 shares of the company’s stock, valued at approximately $1,933,614.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the transaction, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,380 shares of company stock valued at $9,803,625. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. acquired a new position in Snowflake during the 4th quarter worth $790,000. Sequoia Financial Advisors LLC lifted its position in shares of Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after purchasing an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Snowflake during the 3rd quarter valued at approximately $458,000. Meridian Wealth Management LLC acquired a new stake in Snowflake in the 4th quarter valued at approximately $288,000. Finally, Glynn Capital Management LLC increased its position in Snowflake by 3.1% in the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after buying an additional 5,629 shares during the period. Institutional investors and hedge funds 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.