Monness Crespi & Hardt Raises Snowflake (NYSE:SNOW) Price Target to $275.00

Snowflake (NYSE:SNOW) had its price objective boosted by Monness Crespi & Hardt from $260.00 to $275.00 in a report released on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Monness Crespi & Hardt’s target price suggests a potential upside of 19.87% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Snowflake in a research note on Friday, November 21st. Evercore ISI raised their price target on shares of Snowflake from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group set a $300.00 price objective on shares of Snowflake in a research report on Monday, November 24th. Wedbush reiterated an “outperform” rating and issued a $270.00 price objective on shares of Snowflake in a research note on Thursday. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $237.00 target price on shares of Snowflake in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.05.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $229.42 on Thursday. The company’s fifty day moving average is $251.34 and its two-hundred day moving average is $226.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake has a 12-month low of $120.10 and a 12-month high of $280.67. The company has a market cap of $77.73 billion, a P/E ratio of -56.79 and a beta of 1.09.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative return on equity of 43.84% and a negative net margin of 30.76%.Snowflake’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Equities analysts expect that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the transaction, the executive vice president owned 512,450 shares of the company’s stock, valued at approximately $127,871,648.50. This represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $257.29, for a total value of $103,687.87. Following the completion of the transaction, the director directly owned 24,927 shares in the company, valued at $6,413,467.83. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 170,564 shares of company stock valued at $41,676,989. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SNOW. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake during the 2nd quarter worth about $25,000. Avion Wealth lifted its holdings in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of Snowflake in the third quarter worth $28,000. Finally, Rossby Financial LCC increased its position in Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 127 shares during the period. 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.