Snowflake (NYSE:SNOW) PT Raised to $185.00

Snowflake (NYSE:SNOW) had its price target raised by JPMorgan Chase & Co. from $170.00 to $185.00 in a research report sent to investors on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on SNOW. Barclays decreased their price objective on shares of Snowflake from $198.00 to $188.00 and set an equal weight rating on the stock in a research note on Friday, March 1st. Piper Sandler reissued an overweight rating and issued a $240.00 price objective on shares of Snowflake in a research note on Thursday. KeyCorp lifted their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an overweight rating in a research note on Thursday. Royal Bank of Canada decreased their price objective on shares of Snowflake from $246.00 to $220.00 and set an outperform rating on the stock in a research note on Monday, May 20th. Finally, Redburn Atlantic reissued a sell rating and issued a $125.00 price objective (down from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has an average rating of Moderate Buy and an average price target of $200.64.

Snowflake Trading Up 1.0 %

Shares of SNOW opened at $156.16 on Thursday. Snowflake has a 12 month low of $138.40 and a 12 month high of $237.72. The firm’s 50 day moving average is $157.03 and its 200-day moving average is $180.46. The stock has a market capitalization of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate 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 company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Equities research analysts predict that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares in the company, valued at approximately $5,000,037.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benoit Dageville sold 689 shares of the 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 completion of the sale, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders have sold 62,380 shares of company stock valued at $9,803,625 in the last 90 days. 8.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Yousif Capital Management LLC increased its stake in Snowflake by 5.7% in the 3rd quarter. Yousif Capital Management LLC now owns 2,972 shares of the company’s stock valued at $454,000 after buying an additional 160 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Snowflake by 13.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,049 shares of the company’s stock valued at $619,000 after buying an additional 471 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Snowflake by 27.3% during the 3rd quarter. Private Advisor Group LLC now owns 15,297 shares of the company’s stock worth $2,337,000 after purchasing an additional 3,277 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Snowflake by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 335,916 shares of the company’s stock worth $51,318,000 after purchasing an additional 10,592 shares during the last quarter. Finally, Picton Mahoney Asset Management increased its stake in shares of Snowflake by 0.9% during the 3rd quarter. Picton Mahoney Asset Management now owns 18,981 shares of the company’s stock worth $2,901,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.