Snowflake (NYSE:SNOW) Given New $125.00 Price Target at UBS Group

Snowflake (NYSE:SNOW) had its price objective trimmed by UBS Group from $155.00 to $125.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group reduced their price target on Snowflake from $215.00 to $190.00 and set a buy rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group reiterated a buy rating and set a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. Morgan Stanley restated an equal weight rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. HSBC upgraded shares of Snowflake from a reduce rating to a hold rating and increased their price objective for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Rosenblatt Securities restated a buy rating and issued a $195.00 target price on shares of Snowflake in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake has an average rating of Moderate Buy and an average target price of $175.17.

Snowflake Trading Down 0.2 %

Snowflake stock opened at $112.43 on Tuesday. The stock has a market cap of $37.69 billion, a PE ratio of -40.15 and a beta of 0.83. The stock has a 50-day moving average price of $119.54 and a 200 day moving average price of $138.25. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.52) earnings per share. On average, equities analysts predict that Snowflake will post -2.41 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $95,924.01. Following the completion of the sale, the executive vice president now owns 751,755 shares in the company, valued at approximately $83,753,024.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $95,924.01. Following the transaction, the executive vice president now directly owns 751,755 shares in the company, valued at approximately $83,753,024.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,386 shares of company stock worth $5,715,941. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. increased its holdings in shares of Snowflake by 76.8% in the 2nd quarter. Centaurus Financial Inc. now owns 6,577 shares of the company’s stock valued at $888,000 after acquiring an additional 2,856 shares during the last quarter. Cavalry Management Group LLC acquired a new position in Snowflake in the second quarter worth $430,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Snowflake by 5,565.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 121,800 shares of the company’s stock valued at $16,454,000 after purchasing an additional 119,650 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Snowflake by 27.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock worth $451,000 after purchasing an additional 722 shares during the period. Finally, Heritage Wealth Management Inc. bought a new position in shares of Snowflake in the 2nd quarter worth about $530,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

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.