Snowflake (NYSE:SNOW) Price Target Raised to $200.00

Snowflake (NYSE:SNOW) had its price target upped by KeyCorp from $185.00 to $200.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently issued reports on the company. Monness Crespi & Hardt raised Snowflake from a sell rating to a neutral rating in a report on Monday, March 18th. Raymond James raised their price target on Snowflake from $190.00 to $223.00 and gave the company an outperform rating in a report on Friday, February 2nd. Guggenheim raised Snowflake from a sell rating to a neutral rating in a report on Friday, March 15th. Evercore ISI reduced their target price on shares of Snowflake from $250.00 to $225.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. Finally, Macquarie raised shares of Snowflake from a neutral rating to an outperform rating and boosted their price target for the stock from $182.00 to $205.00 in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of Moderate Buy and an average price target of $200.64.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $156.16 on Thursday. The business has a fifty day moving average of $157.03 and a 200-day moving average of $180.31. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72. The firm has a market cap of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90.

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

Insider Transactions at Snowflake

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sridhar Ramaswamy purchased 31,542 shares of the stock in a transaction dated Monday, March 25th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold a total of 62,380 shares of company stock worth $9,803,625 over the last quarter. Company insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently modified their holdings of SNOW. Accent Capital Management LLC bought a new position in shares of Snowflake in the 4th quarter worth $25,000. LRI Investments LLC acquired a new position in Snowflake during the first quarter worth $29,000. Provence Wealth Management Group bought a new position in shares of Snowflake in the third quarter valued at $30,000. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Snowflake during the first quarter worth about $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.