Snowflake (NYSE:SNOW) Price Target Lowered to $195.00 at Scotiabank

Snowflake (NYSE:SNOW) had its target price decreased by Scotiabank from $207.00 to $195.00 in a report released on Thursday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Rosenblatt Securities lifted their target price on shares of Snowflake from $185.00 to $195.00 and gave the company a buy rating in a research note on Thursday. Macquarie raised shares of Snowflake from a neutral rating to an outperform rating and lifted their target price for the company from $182.00 to $205.00 in a research note on Thursday, February 29th. Citigroup decreased their target price on shares of Snowflake from $290.00 to $240.00 and set a buy rating for the company in a research note on Monday, March 4th. Mizuho reissued a buy rating and set a $205.00 target price (down previously from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, Raymond James lifted their target price on shares of Snowflake from $190.00 to $223.00 and gave the company an outperform rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Stock Performance

Snowflake stock opened at $156.16 on Thursday. The company has a 50 day moving average price of $157.03 and a 200 day moving average price of $180.46. Snowflake has a 52 week low of $138.40 and a 52 week high of $237.72. The firm has a market capitalization of $52.19 billion, a price-to-earnings ratio of -55.77 and a beta of 0.90.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Equities analysts forecast that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 689 shares of the business’s 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 owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $161.94, for a total transaction of $242,910.00. Following the transaction, the executive vice president now owns 772,291 shares in the company, valued at approximately $125,064,804.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

Institutional investors have recently made changes to their positions in the business. Accent Capital Management LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at about $25,000. LRI Investments LLC acquired a new position in Snowflake in the first quarter valued at about $29,000. Provence Wealth Management Group acquired a new position in Snowflake in the third quarter valued at about $30,000. Global Wealth Management Investment Advisory Inc. boosted its position in Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Snowflake in the first quarter valued at about $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.