Deutsche Bank Aktiengesellschaft Increases Snowflake (NYSE:SNOW) Price Target to $190.00

Snowflake (NYSE:SNOW) had its price target raised by Deutsche Bank Aktiengesellschaft from $180.00 to $190.00 in a research note published on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research report on Tuesday. Wells Fargo & Company upped their price objective on Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday. Robert W. Baird reduced their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Royal Bank of Canada increased their price target on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Canaccord Genuity Group reduced their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Performance

Shares of NYSE SNOW traded up $5.84 during mid-day trading on Thursday, reaching $177.19. The company’s stock had a trading volume of 3,350,547 shares, compared to its average volume of 6,701,316. The stock has a market capitalization of $59.39 billion, a P/E ratio of -55.90 and a beta of 0.83. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a 50-day moving average of $118.98 and a two-hundred day moving average of $128.19.

Snowflake (NYSE:SNOW) last issued its earnings results 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. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.52) EPS. Analysts predict that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board raised its holdings in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the last quarter. Swedbank AB purchased a new stake in Snowflake during the 1st quarter valued at approximately $258,957,000. Two Sigma Advisers LP raised its stake in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. AQR Capital Management LLC lifted its position in Snowflake by 210.0% during the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the period. Hedge funds and other institutional investors 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.