Snowflake (NYSE:SNOW) Given New $146.00 Price Target at Barclays

Snowflake (NYSE:SNOW) had its price objective lowered by Barclays from $191.00 to $146.00 in a research report report published on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

SNOW has been the topic of a number of other research reports. Royal Bank of Canada reduced their price objective on Snowflake from $226.00 to $183.00 and set an outperform rating on the stock in a research note on Wednesday, June 5th. Piper Sandler reduced their price objective on Snowflake from $240.00 to $165.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Canaccord Genuity Group reduced their price objective on Snowflake from $230.00 to $215.00 and set a buy rating on the stock in a research note on Friday, May 24th. Loop Capital cut their price target on Snowflake from $235.00 to $225.00 and set a buy rating on the stock in a research note on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a buy rating and issued a $210.00 price target on shares of Snowflake in a research note on Monday, July 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $190.41.

Snowflake Trading Up 2.7 %

Shares of SNOW opened at $131.44 on Monday. The firm has a market capitalization of $44.01 billion, a P/E ratio of -46.94 and a beta of 0.85. The stock’s fifty day simple moving average is $130.01 and its 200 day simple moving average is $156.34. Snowflake has a twelve month low of $107.93 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. Sell-side analysts predict that Snowflake will post -2.31 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the sale, the chief accounting officer now directly owns 36,076 shares in the company, valued at $5,712,995.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the sale, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The disclosure for this sale can be found here. Insiders sold 534,178 shares of company stock valued at $66,520,575 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in SNOW. Commerce Bank lifted its position in shares of Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after acquiring an additional 51 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Snowflake by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after acquiring an additional 70 shares during the last quarter. Covestor Ltd lifted its position 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 acquiring an additional 70 shares during the last quarter. Finally, IAM Advisory LLC lifted its position in shares of Snowflake by 2.0% during the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock valued at $600,000 after acquiring an additional 74 shares during the last quarter. 65.10% of the stock is currently 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.