Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Snowflake (NYSE:SNOW) had its target price lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $180.00 to $190.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 13.45% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday. Monness Crespi & Hardt lifted their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday. DA Davidson restated a “buy” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. Evercore ISI boosted their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Jefferies Financial Group raised their price target on Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $167.48 on Thursday. The stock has a 50 day moving average price of $120.06 and a 200-day moving average price of $128.22. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.52) earnings per share. On average, equities analysts anticipate that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 over the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its stake in Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares during the period. Modus Advisors LLC lifted its holdings in shares of Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares in the last quarter. Catalyst Private Wealth LLC boosted its position in shares of Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares during the last quarter. Iron Gate Global Advisors LLC increased its holdings in Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after acquiring an additional 105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares in the last quarter. 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.