Snowflake (NYSE:SNOW) Price Target Lowered to $200.00 at Robert W. Baird

Snowflake (NYSE:SNOW) had its price objective decreased by Robert W. Baird from $210.00 to $200.00 in a research note released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Macquarie raised shares of Snowflake from a neutral rating to an outperform rating and raised their price target for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Needham & Company LLC reduced their target price on shares of Snowflake from $240.00 to $210.00 and set a buy rating for the company in a report on Thursday. Rosenblatt Securities raised their target price on shares of Snowflake from $185.00 to $195.00 and gave the stock a buy rating in a report on Thursday. Sanford C. Bernstein raised their target price on shares of Snowflake from $171.00 to $185.00 and gave the stock a market perform rating in a report on Thursday. Finally, Oppenheimer reissued an outperform rating and set a $220.00 target price on shares of Snowflake in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of Moderate Buy and an average price target of $200.64.

Snowflake Trading Up 1.0 %

NYSE SNOW opened at $156.16 on Thursday. The company has a fifty day simple moving average of $157.03 and a two-hundred day simple moving average of $180.46. The stock has a market cap of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. Snowflake has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Snowflake will post -1.83 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently bought and sold shares of the company. Cigna Investments Inc. New raised its stake in shares of Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after acquiring an additional 51 shares during the period. E&G Advisors LP increased its stake in Snowflake by 3.0% during the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares during the period. Commerce Bank increased its stake in Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after buying an additional 51 shares during the period. Parkside Financial Bank & Trust grew its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after acquiring an additional 53 shares in the last quarter. 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.