Snowflake (NYSE:SNOW) Price Target Cut to $200.00

Snowflake (NYSE:SNOW) had its target price cut by investment analysts at Robert W. Baird from $210.00 to $200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 28.07% from the company’s current price.

A number of other research analysts have also weighed in on SNOW. Rosenblatt Securities raised their target price on shares of Snowflake from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group reissued a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Mizuho restated a “buy” rating and issued a $205.00 price target (down previously from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, Royal Bank of Canada dropped their price target on shares of Snowflake from $246.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, May 20th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.64.

Snowflake Stock Up 1.0 %

NYSE:SNOW opened at $156.17 on Thursday. Snowflake has a 52 week low of $138.40 and a 52 week high of $237.72. The stock has a market capitalization of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90. The stock’s 50-day moving average price is $157.03 and its 200-day moving average price is $180.17.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Sell-side analysts expect that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other news, CAO Emily Ho sold 1,500 shares of the stock in a transaction 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 transaction, the chief accounting officer now 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 the SEC website. In other news, CAO Emily Ho sold 1,500 shares of the stock in a transaction 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 transaction, the chief accounting officer now 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 the SEC website. Also, Director Mark D. Mclaughlin purchased 3,030 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $165.45 per share, for a total transaction of $501,313.50. Following the purchase, the director now owns 11,687 shares in the company, valued at $1,933,614.15. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 62,380 shares of company stock valued at $9,803,625. Corporate insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds have recently bought and sold shares of the stock. Cigna Investments Inc. New increased 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 worth $656,000 after purchasing an additional 51 shares in the last quarter. E&G Advisors LP boosted its stake in shares of Snowflake by 3.0% in the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares during the last quarter. Commerce Bank boosted its stake in shares of Snowflake by 0.8% in the 4th 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 last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of Snowflake by 18.1% in the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after purchasing an additional 53 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

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.