Snowflake (NYSE:SNOW) Price Target Raised to $172.00 at Barclays

Snowflake (NYSE:SNOW) had its price target hoisted by Barclays from $142.00 to $172.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently issued reports on SNOW. TD Cowen lowered their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Needham & Company LLC increased their target price on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group cut their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Finally, JMP Securities reduced their target price 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Stock Down 2.3 %

Snowflake stock opened at $167.44 on Thursday. The stock has a market cap of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The business’s 50-day moving average price is $120.06 and its two-hundred day moving average price is $128.00.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results 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. Snowflake had a negative net margin of 33.02% and a negative return on equity of 22.01%. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period in the previous year, the firm posted ($0.52) EPS. The firm’s revenue was up 28.9% on a year-over-year basis. As a group, analysts expect that Snowflake will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the executive vice president now directly owns 721,755 shares in the company, valued at approximately $86,610,600. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock valued at $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of SNOW. LRI Investments LLC grew its stake 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 acquiring an additional 112 shares in the last quarter. Groupama Asset Managment purchased a new position in Snowflake during the third quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new stake in Snowflake in the 2nd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the 3rd quarter valued at about $30,000. Finally, Fortitude Family Office LLC bought a new position in shares of Snowflake during the 3rd quarter worth approximately $34,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.