Snowflake (NYSE:SNOW) Price Target Raised to $275.00

by · The Cerbat Gem

Snowflake (NYSE:SNOW – Free Report) had its price target boosted by Rosenblatt Securities from $250.00 to $275.00 in a research report report published on Monday, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other research analysts have also issued reports on SNOW. Jefferies Financial Group set a $300.00 target price on Snowflake in a research report on Monday, November 24th. BTIG Research upped their price target on Snowflake from $276.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. UBS Group boosted their target price on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Scotiabank upped their target price on shares of Snowflake from $230.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $270.31.

Get Our Latest Stock Report on Snowflake

Snowflake Price Performance

Shares of NYSE:SNOW opened at $265.34 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market cap of $89.90 billion, a PE ratio of -63.94 and a beta of 1.09. The company’s fifty day moving average is $250.99 and its 200 day moving average is $225.85. Snowflake has a 52 week low of $120.10 and a 52 week high of $280.67.

Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS. Research analysts anticipate that Snowflake will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $257.29, for a total value of $103,687.87. Following the transaction, the director owned 24,927 shares of the company’s stock, valued at $6,413,467.83. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the transaction, the executive vice president directly owned 512,450 shares in the company, valued at $127,871,648.50. This represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 221,305 shares of company stock valued at $53,086,099 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Snowflake by 3.1% during the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock valued at $6,461,465,000 after purchasing an additional 857,832 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake in the second quarter worth about $3,900,134,000. Jennison Associates LLC boosted its stake in Snowflake by 13.5% during the third quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock valued at $2,048,871,000 after buying an additional 1,083,222 shares during the last quarter. State Street Corp grew its holdings in Snowflake by 1.4% during the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after buying an additional 94,293 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after buying an additional 652,485 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Company Profile

(Get Free Report)

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.

Further Reading