Snowflake (NYSE:SNOW – Free Report) had its target price raised by Barclays from $142.00 to $172.00 in a report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.
A number of other research analysts also recently issued reports on SNOW. Wells Fargo & Company raised their price target on shares of Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday. Evercore ISI raised their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird dropped their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group boosted their price objective on Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.23.
Check Out Our Latest Stock Analysis on SNOW
Snowflake Price Performance
Snowflake (NYSE:SNOW – Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS 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 company’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. As a group, sell-side analysts expect that Snowflake will post -2.41 EPS for the current fiscal year.
Insider Activity
In other news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last three months. Insiders own 7.80% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank grew its stake in Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after acquiring an additional 4,296 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Snowflake by 23.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after purchasing an additional 43,062 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after purchasing an additional 42,563 shares during the period. LRI Investments LLC purchased a new position in Snowflake during the first quarter valued at approximately $29,000. Finally, Fulton Bank N.A. increased its stake in Snowflake by 17.4% in the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after buying an additional 228 shares during the period. 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.
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