Snowflake (NYSE:SNOW) Given New $125.00 Price Target at UBS Group

Snowflake (NYSE:SNOW) had its target price reduced by UBS Group from $155.00 to $125.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 13.37% from the stock’s previous close.

SNOW has been the topic of a number of other reports. TD Cowen lowered their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. JMP Securities cut their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of Snowflake in a report on Monday, August 19th. Jefferies Financial Group dropped their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and increased their price objective for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $175.17.

Snowflake Price Performance

Shares of NYSE:SNOW traded down $3.00 during trading on Tuesday, hitting $110.26. 2,445,443 shares of the company were exchanged, compared to its average volume of 6,635,853. The firm’s 50 day moving average price is $120.46 and its 200-day moving average price is $138.78. The stock has a market capitalization of $36.92 billion, a P/E ratio of -39.48 and a beta of 0.83. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.52) EPS. As a group, equities research analysts anticipate that Snowflake will post -2.42 EPS for the current year.

Insider Activity

In related news, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the transaction, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,083 shares of company stock valued at $6,089,392. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently bought and sold shares of SNOW. Dimensional Fund Advisors LP lifted its holdings in shares of Snowflake by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after buying an additional 10,575 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Snowflake by 18.1% in the 4th quarter. D.A. Davidson & CO. now owns 4,847 shares of the company’s stock valued at $965,000 after buying an additional 744 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Snowflake by 14.1% in the 4th quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock valued at $3,762,000 after buying an additional 2,332 shares in the last quarter. Assetmark Inc. boosted its stake in Snowflake by 13.8% in the 4th quarter. Assetmark Inc. now owns 2,858 shares of the company’s stock valued at $569,000 after buying an additional 346 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Snowflake by 0.3% in the fourth quarter. US Bancorp DE now owns 35,438 shares of the company’s stock worth $7,052,000 after purchasing an additional 99 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.