Snowflake (NYSE:SNOW) Price Target Cut to $125.00

Snowflake (NYSE:SNOW) had its price target cut by Wells Fargo & Company from $130.00 to $125.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on SNOW. Rosenblatt Securities reaffirmed a buy rating and issued a $195.00 price target on shares of Snowflake in a research report on Monday. Sanford C. Bernstein lifted their price target on shares of Snowflake from $171.00 to $185.00 and gave the stock a market perform rating in a research note on Thursday, May 23rd. TD Cowen reduced their price objective on shares of Snowflake from $230.00 to $180.00 and set a buy rating on the stock in a report on Monday. Barclays lowered their target price on shares of Snowflake from $191.00 to $146.00 and set an equal weight rating for the company in a research note on Monday. Finally, KeyCorp increased their price objective on Snowflake from $185.00 to $200.00 and gave the company an overweight rating in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $178.69.

Snowflake Stock Performance

Shares of SNOW stock opened at $115.21 on Thursday. Snowflake has a fifty-two week low of $107.93 and a fifty-two week high of $237.72. The company has a 50 day moving average price of $129.96 and a 200 day moving average price of $155.31. The stock has a market capitalization of $38.57 billion, a P/E ratio of -41.14 and a beta of 0.85.

Snowflake (NYSE:SNOW) last posted 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 business 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 30.80% and a negative return on equity of 15.99%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. On average, research analysts forecast that Snowflake will post -2.31 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, CAO Emily Ho sold 3,845 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares in the company, valued at approximately $3,991,629.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the completion of the sale, the chief accounting officer now directly owns 30,613 shares in the company, valued at $3,991,629.07. The disclosure for this sale can be found here. Insiders sold a total of 527,678 shares of company stock valued at $65,491,235 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new position in Snowflake in the fourth quarter valued at $8,358,000. Signaturefd LLC lifted its stake in shares of Snowflake by 27.4% in the 4th quarter. Signaturefd LLC now owns 2,865 shares of the company’s stock valued at $570,000 after purchasing an additional 616 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Snowflake by 90.2% during the 4th quarter. Larson Financial Group LLC now owns 447 shares of the company’s stock worth $89,000 after purchasing an additional 212 shares during the period. Parkside Financial Bank & Trust increased its position 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 in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Snowflake in the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors 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.