Snowflake (NYSE:SNOW) Price Target Raised to $190.00 at TD Cowen

Snowflake (NYSE:SNOW) had its target price upped by TD Cowen from $180.00 to $190.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

SNOW has been the subject of several other reports. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday. Citigroup lowered their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Canaccord Genuity Group cut their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada boosted their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Trading Down 2.3 %

Shares of NYSE:SNOW opened at $167.44 on Thursday. The firm’s 50 day moving average is $120.06 and its two-hundred day moving average is $128.00. The firm has a market capitalization of $56.13 billion, a P/E ratio of -49.39 and a beta of 0.83. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.52) earnings per share. Analysts predict that Snowflake will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,061,544 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after acquiring an additional 295 shares during the period. Covestor Ltd lifted its position in shares of Snowflake by 25.0% during 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 last quarter. O Shaughnessy Asset Management LLC boosted its stake in Snowflake by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock valued at $2,042,000 after purchasing an additional 2,191 shares during the period. UniSuper Management Pty Ltd grew its holdings in Snowflake by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock valued at $646,000 after buying an additional 2,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Snowflake by 372.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock worth $36,546,000 after buying an additional 178,253 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.