Snowflake (NYSE:SNOW) Price Target Raised to $185.00 at KeyCorp

Snowflake (NYSE:SNOW) had its target price boosted by KeyCorp from $150.00 to $185.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 10.46% from the stock’s current price.

A number of other brokerages have also issued reports on SNOW. JMP Securities dropped their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. Evercore ISI decreased their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. UBS Group cut their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Stock Down 2.3 %

Shares of SNOW stock opened at $167.48 on Thursday. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The firm has a market capitalization of $56.14 billion, a price-to-earnings ratio of -54.73 and a beta of 0.83. The firm has a fifty day moving average of $120.06 and a 200-day moving average of $128.22.

Snowflake (NYSE:SNOW) last announced its 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. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the company posted ($0.52) EPS. The business’s quarterly revenue was up 28.9% on a year-over-year basis. Research analysts expect that Snowflake will post -2.41 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $23,877,196.65. This trade represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of hedge funds have recently added to or reduced their stakes in SNOW. Westside Investment Management Inc. lifted its stake in shares of Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock valued at $1,438,000 after acquiring an additional 3,971 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in Snowflake by 10.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock worth $222,000 after purchasing an additional 190 shares in the last quarter. Sunbelt Securities Inc. raised its position in Snowflake by 2.6% in the third quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock valued at $636,000 after purchasing an additional 142 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Finally, Shaolin Capital Management LLC bought a new stake in shares of Snowflake during the third quarter worth about $345,000. Institutional investors and hedge funds 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.