Snowflake (NYSE:SNOW) Price Target Raised to $172.00

Snowflake (NYSE:SNOW) had its target price hoisted by Barclays from $142.00 to $172.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently commented on SNOW. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Wells Fargo & Company raised their price objective on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday. 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. Wedbush raised Snowflake to a “hold” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group decreased their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Stock Down 2.3 %

NYSE:SNOW opened at $167.44 on Thursday. The stock’s fifty day simple moving average is $120.06 and its 200-day simple moving average is $128.00. The firm has a market capitalization of $56.13 billion, a P/E ratio of -49.39 and a beta of 0.83. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.52) EPS. As a group, equities research analysts expect that Snowflake will post -2.41 earnings per share for the current year.

Insider Activity

In other news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

A number of institutional investors have recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board boosted its stake in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the period. Swedbank AB bought a new stake in shares of Snowflake during the 1st quarter valued at $258,957,000. Two Sigma Advisers LP lifted its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. AQR Capital Management LLC increased its position in shares of Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after purchasing an additional 660,168 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the period. Institutional investors own 65.10% of the company’s stock.

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.