Stifel Nicolaus Lowers Snowflake (NYSE:SNOW) Price Target to $168.00

Snowflake (NYSE:SNOW) had its price target decreased by Stifel Nicolaus from $200.00 to $168.00 in a research report report published on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research firms have also weighed in on SNOW. Canaccord Genuity Group dropped their price objective on shares of Snowflake from $230.00 to $215.00 and set a buy rating on the stock in a research note on Friday, May 24th. Piper Sandler dropped their price objective on shares of Snowflake from $240.00 to $165.00 and set an overweight rating on the stock in a report on Friday, July 12th. KeyCorp upped their target price on shares of Snowflake from $185.00 to $200.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a buy rating and set a $210.00 price target on shares of Snowflake in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective on Snowflake from $170.00 to $185.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $178.69.

Snowflake Trading Down 14.7 %

SNOW stock opened at $115.21 on Monday. The firm has a 50 day simple moving average of $129.96 and a 200-day simple moving average of $155.31. The company has a market capitalization of $38.57 billion, a P/E ratio of -41.14 and a beta of 0.85. Snowflake has a twelve month low of $107.93 and a twelve 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 for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the business earned ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, research analysts predict that Snowflake will post -2.31 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $137.14, for a total transaction of $2,057,100.00. Following the completion of the sale, the executive vice president now directly owns 757,597 shares in the company, valued at $103,896,852.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the transaction, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $137.14, for a total transaction of $2,057,100.00. Following the sale, the executive vice president now owns 757,597 shares in the company, valued at approximately $103,896,852.58. The disclosure for this sale can be found here. Insiders have sold a total of 527,678 shares of company stock worth $65,491,235 over the last 90 days. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank raised its position in Snowflake by 17.2% in the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after purchasing an additional 4,296 shares in the last quarter. Choreo LLC boosted its stake in Snowflake by 18.6% in the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after buying an additional 1,294 shares in the last quarter. Trexquant Investment LP grew its position in Snowflake by 266.3% in the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after acquiring an additional 7,633 shares during the period. Ridgewood Investments LLC acquired a new position in Snowflake during the first quarter worth $244,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after acquiring an additional 42,563 shares during the period. 65.10% of the stock is owned by 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.