Robert W. Baird Trims Snowflake (NYSE:SNOW) Target Price to $165.00

Snowflake (NYSE:SNOW) had its price objective reduced by Robert W. Baird from $200.00 to $165.00 in a research note published on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Wedbush restated a neutral rating and set a $210.00 target price on shares of Snowflake in a research note on Wednesday, June 5th. Wells Fargo & Company cut Snowflake from an overweight rating to an equal weight rating and decreased their target price for the stock from $200.00 to $130.00 in a research note on Thursday, August 15th. Canaccord Genuity Group decreased their target price on Snowflake from $230.00 to $215.00 and set a buy rating for the company in a research note on Friday, May 24th. Stifel Nicolaus decreased their target price on Snowflake from $200.00 to $168.00 and set a buy rating for the company in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on Snowflake from $170.00 to $185.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $176.03.

Snowflake Stock Performance

Shares of SNOW opened at $115.84 on Tuesday. The stock has a 50-day simple moving average of $129.74 and a 200-day simple moving average of $154.61. The stock has a market capitalization of $38.78 billion, a PE ratio of -41.37 and a beta of 0.85. Snowflake has a 1 year low of $107.93 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.52) EPS. Analysts predict that Snowflake will post -2.31 EPS for the current year.

Insider Activity at Snowflake

In related news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the sale, the director now directly owns 4,247 shares in the company, valued at $607,236.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the sale, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. Insiders have sold a total of 527,678 shares of company stock worth $65,491,235 over the last three months. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently added to or reduced their stakes in SNOW. Norges Bank acquired a new position in Snowflake in the fourth quarter valued at $838,455,000. Swedbank AB acquired a new position in Snowflake in the first quarter valued at $258,957,000. Vanguard Group Inc. increased its stake in Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Snowflake during the first quarter worth about $171,608,000. Finally, Trivest Advisors Ltd acquired a new stake in Snowflake during the fourth quarter worth about $173,747,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Company Profile

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.