Analysts Set Snowflake Inc. (NYSE:SNOW) Price Target at $198.64

Shares of Snowflake Inc. (NYSE:SNOW) have received a consensus recommendation of “Moderate Buy” from the thirty-five research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $199.03.

A number of equities research analysts recently commented on SNOW shares. Redburn Atlantic reiterated a “sell” rating and issued a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Loop Capital dropped their price objective on Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Robert W. Baird dropped their price objective on Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Citigroup dropped their price objective on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, Canaccord Genuity Group dropped their price objective on Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 24th.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $125.19, for a total value of $162,121.05. Following the completion of the sale, the insider now directly owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,147 shares of company stock valued at $6,686,742. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in SNOW. Cigna Investments Inc. New lifted its holdings in Snowflake by 1.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after purchasing an additional 51 shares during the last quarter. E&G Advisors LP lifted its holdings in Snowflake by 3.0% during the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after purchasing an additional 51 shares during the last quarter. Commerce Bank lifted its holdings in Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after purchasing an additional 53 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Down 0.5 %

Shares of SNOW opened at $124.15 on Friday. Snowflake has a 12-month low of $122.60 and a 12-month high of $237.72. The firm has a market capitalization of $41.57 billion, a PE ratio of -44.36 and a beta of 0.85. The stock’s fifty day simple moving average is $147.15 and its 200-day simple moving average is $174.84.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The firm had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Analysts anticipate that Snowflake will post -2.27 EPS for the current year.

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.