Snowflake (NYSE:SNOW) Given New $150.00 Price Target at KeyCorp

Snowflake (NYSE:SNOW) had its price target trimmed by KeyCorp from $168.00 to $150.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on SNOW. Monness Crespi & Hardt upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company decreased their target price on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Evercore ISI cut their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Barclays decreased their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Needham & Company LLC dropped their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $172.09.

Snowflake Trading Up 4.2 %

Snowflake stock opened at $130.68 on Monday. The firm has a 50 day simple moving average of $115.64 and a 200 day simple moving average of $128.89. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The firm has a market capitalization of $43.80 billion, a price-to-earnings ratio of -43.67 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating 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 company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) earnings per share. On average, equities research analysts forecast that Snowflake will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, Director Frank Slootman sold 6,251 shares of Snowflake stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 in the last 90 days. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC grew its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Snowflake in the second quarter worth about $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the third quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the third quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Snowflake in the 2nd quarter worth approximately $39,000. 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.