Snowflake (NYSE:SNOW) Given New $190.00 Price Target at Deutsche Bank Aktiengesellschaft

Snowflake (NYSE:SNOW) had its target price increased by Deutsche Bank Aktiengesellschaft from $180.00 to $190.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

SNOW has been the subject of several other reports. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Tuesday. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Wedbush raised shares of Snowflake to a “hold” rating in a research note on Thursday, October 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $185.00 target price (up previously from $165.00) on shares of Snowflake in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Up 3.4 %

SNOW traded up $5.84 during mid-day trading on Thursday, reaching $177.19. 3,350,547 shares of the company traded hands, compared to its average volume of 6,701,316. The company’s fifty day moving average price is $118.98 and its 200-day moving average price is $128.19. The stock has a market capitalization of $59.39 billion, a P/E ratio of -55.90 and a beta of 0.83. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the prior year, the firm earned ($0.52) EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, sell-side analysts forecast that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The stock was 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 approximately $23,998,330.16. This trade represents a 0.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 over the last quarter. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently modified their holdings of the company. LRI Investments LLC grew its stake in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the period. Groupama Asset Managment purchased a new position in Snowflake during the third quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the second quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the third quarter valued at about $30,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the third quarter worth about $34,000. 65.10% of the stock is owned by hedge funds and other 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.