Snowflake (NYSE:SNOW) Price Target Raised to $190.00 at TD Cowen

Snowflake (NYSE:SNOW) had its price objective increased by equities researchers at TD Cowen from $180.00 to $190.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 11.82% from the company’s current price.

Several other equities analysts have also recently issued reports on SNOW. Canaccord Genuity Group dropped their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. JMP Securities cut their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Thursday. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and raised their target price for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $185.00 price target (up from $165.00) on shares of Snowflake in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.23.

Snowflake Trading Up 31.6 %

NYSE:SNOW traded up $40.80 during midday trading on Thursday, hitting $169.92. 26,946,754 shares of the company were exchanged, compared to its average volume of 6,591,476. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market capitalization of $56.96 billion, a PE ratio of -55.53 and a beta of 0.83. The company has a fifty day simple moving average of $117.82 and a 200 day simple moving average of $127.89.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) earnings per share. As a group, equities research analysts expect that Snowflake will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 6,251 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. The trade was a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC increased its holdings in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares during the period. Institutional investors and hedge funds 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.