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

Snowflake (NYSE:SNOW) had its price target raised by Evercore ISI from $170.00 to $190.00 in a report released on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

SNOW has been the topic of a number of other reports. KeyCorp lifted their price objective on Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup lowered their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. TD Cowen cut their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Jefferies Financial Group reduced their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Argus began coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Price Performance

Shares of SNOW stock opened at $167.44 on Thursday. Snowflake has a one year low of $107.13 and a one year high of $237.72. The stock has a fifty day moving average price of $120.06 and a 200 day moving average price of $128.00. The stock has a market cap of $56.13 billion, a P/E ratio of -49.39 and a beta of 0.83.

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

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake 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 owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,538 shares of company stock worth $7,061,544. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Covestor Ltd lifted its holdings in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares in the last quarter. Modus Advisors LLC lifted its stake in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares in the last quarter. Catalyst Private Wealth LLC lifted its stake in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after buying an additional 104 shares in the last quarter. Iron Gate Global Advisors LLC boosted its holdings in shares of Snowflake by 0.9% in the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after buying an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after acquiring an additional 108 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.