Snowflake (NYSE:SNOW) Price Target Raised to $190.00 at UBS Group

Snowflake (NYSE:SNOW) had its price target upped by investment analysts at UBS Group from $185.00 to $190.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 19.46% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Canaccord Genuity Group reissued a “buy” rating and set a $230.00 target price on shares of Snowflake in a report on Thursday, February 29th. Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and raised their price target for the company from $182.00 to $205.00 in a research note on Thursday, February 29th. Finally, Citigroup reduced their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.11.

Snowflake Stock Performance

Shares of SNOW stock traded down $4.29 during trading on Thursday, hitting $159.05. The company had a trading volume of 8,206,231 shares, compared to its average volume of 6,040,280. The stock’s 50-day moving average price is $157.13 and its 200 day moving average price is $180.26. Snowflake has a one year low of $138.40 and a one year high of $237.72. The firm has a market capitalization of $53.15 billion, a P/E ratio of -62.02 and a beta of 0.90.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. On average, research analysts anticipate that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Activity

In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Benoit Dageville sold 689 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. purchased a new position in Snowflake during the 4th quarter valued at $790,000. Sequoia Financial Advisors LLC lifted its holdings in Snowflake by 209.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Snowflake during the 3rd quarter valued at approximately $458,000. Glynn Capital Management LLC grew its holdings in shares of Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after acquiring an additional 5,629 shares during the period. Finally, Raymond James & Associates raised its position in shares of Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after acquiring an additional 105,937 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.