Snowflake (NYSE:SNOW) Price Target Raised to $210.00

Snowflake (NYSE:SNOW) had its target price upped by Macquarie from $190.00 to $210.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently issued reports on SNOW. Stifel Nicolaus lifted their price target on shares of Snowflake from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Oppenheimer reissued an “outperform” rating and set a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research note on Thursday, May 22nd. Daiwa America raised shares of Snowflake to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Daiwa Capital Markets began coverage on Snowflake in a research note on Tuesday, April 1st. They set a “buy” rating and a $210.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $221.28.

Snowflake Trading Up 0.1%

SNOW stock opened at $209.44 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 52-week low of $107.13 and a 52-week high of $214.83. The company’s 50-day simple moving average is $166.87 and its 200-day simple moving average is $168.02. The firm has a market cap of $69.92 billion, a P/E ratio of -61.78 and a beta of 1.21.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, equities analysts forecast that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 5,027 shares of Snowflake stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the completion of the sale, the chief accounting officer now directly owns 40,608 shares in the company, valued at $8,083,428.48. This trade represents a 11.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 849,779 shares of company stock worth $159,318,643. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in shares of Snowflake by 23.4% in the 1st quarter. Inspire Investing LLC now owns 2,066 shares of the company’s stock valued at $302,000 after buying an additional 392 shares during the period. Strs Ohio purchased a new stake in Snowflake during the first quarter worth about $10,209,000. SWS Partners increased its stake in Snowflake by 2.5% during the first quarter. SWS Partners now owns 20,683 shares of the company’s stock worth $3,023,000 after purchasing an additional 507 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Snowflake by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company’s stock valued at $7,896,000 after purchasing an additional 274 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.