KeyCorp Raises Snowflake (NYSE:SNOW) Price Target to $325.00

Snowflake (NYSE:SNOW) had its target price hoisted by research analysts at KeyCorp from $285.00 to $325.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 19.22% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Monness Crespi & Hardt increased their price target on Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. HSBC set a $289.00 price objective on Snowflake and gave the stock a “buy” rating in a research report on Friday, May 29th. Citizens Jmp restated a “market outperform” rating and set a $325.00 target price on shares of Snowflake in a research note on Tuesday, May 19th. Benchmark raised their target price on shares of Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, DA Davidson lifted their price target on shares of Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $294.32.

Snowflake Stock Performance

NYSE:SNOW opened at $272.61 on Thursday. Snowflake has a 52 week low of $118.30 and a 52 week high of $284.99. The company has a fifty day simple moving average of $222.78 and a two-hundred day simple moving average of $192.80. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a market cap of $94.49 billion, a price-to-earnings ratio of -77.45 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. As a group, equities analysts anticipate that Snowflake will post -1.84 earnings per share for the current fiscal year.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,860 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $232.25, for a total transaction of $431,985.00. Following the sale, the chief accounting officer owned 41,283 shares of the company’s stock, valued at approximately $9,587,976.75. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total transaction of $646,400.00. Following the sale, the executive vice president owned 397,879 shares of the company’s stock, valued at $102,875,594.24. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,802,015 shares of company stock valued at $421,739,629 over the last 90 days. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new position in Snowflake in the fourth quarter valued at $28,000. Greenline Wealth Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $29,000. GoalVest Advisory LLC increased its position in shares of Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new stake in shares of Snowflake in the 4th quarter valued at about $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.