Snowflake (NYSE:SNOW) Price Target Lowered to $215.00 at Canaccord Genuity Group

Snowflake (NYSE:SNOW) had its target price dropped by investment analysts at Canaccord Genuity Group from $230.00 to $215.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 39.09% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. UBS Group raised their price target on shares of Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday. Rosenblatt Securities raised their price target on shares of Snowflake from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Redburn Atlantic reissued a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Loop Capital reduced their price target on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.78.

Snowflake Stock Down 5.4 %

Shares of Snowflake stock opened at $154.58 on Friday. The firm has a market capitalization of $51.66 billion, a P/E ratio of -55.21 and a beta of 0.90. The company has a 50 day moving average price of $157.04 and a 200 day moving average price of $180.08. Snowflake has a 52 week low of $138.40 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. As a group, research analysts anticipate that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares in the company, valued at $8,627,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares in the company, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,380 shares of company stock worth $9,803,625. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Accent Capital Management LLC acquired a new stake in Snowflake in the fourth quarter valued at $25,000. LRI Investments LLC acquired a new position in shares of Snowflake during the 1st quarter worth $29,000. Provence Wealth Management Group acquired a new position in shares of Snowflake during the 3rd quarter worth $30,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Snowflake during the 1st quarter worth $31,000. 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.