Needham & Company LLC Trims Snowflake (NYSE:SNOW) Target Price to $210.00

Snowflake (NYSE:SNOW) had its target price trimmed by Needham & Company LLC from $240.00 to $210.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. Redburn Atlantic reaffirmed a sell rating and issued a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Monness Crespi & Hardt raised Snowflake from a sell rating to a neutral rating in a research report on Monday, March 18th. Stifel Nicolaus dropped their price target on Snowflake from $235.00 to $220.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Wedbush reissued a neutral rating and set a $210.00 price target on shares of Snowflake in a research report on Wednesday, May 22nd. Finally, Morgan Stanley reissued an equal weight rating and set a $175.00 price target (down from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Stock Up 1.0 %

Shares of SNOW opened at $156.16 on Thursday. The business’s 50 day moving average is $157.03 and its two-hundred day moving average is $180.46. Snowflake has a 52-week low of $138.40 and a 52-week high of $237.72. The firm has a market cap of $52.19 billion, a price-to-earnings ratio of -55.77 and a beta of 0.90.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. On average, equities analysts expect that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares of the company’s stock, valued at $8,627,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Emily Ho sold 1,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the transaction, the chief accounting officer now owns 28,393 shares in the company, valued at approximately $4,457,133.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 8,515 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The disclosure for this sale can be found here. Insiders sold 62,380 shares of company stock valued at $9,803,625 over the last 90 days. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares during the period. Jennison Associates LLC lifted its stake in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after acquiring an additional 249,249 shares in the last quarter. FMR LLC lifted its stake in Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Sands Capital Management LLC raised its stake in shares of Snowflake by 12.6% during the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after purchasing an additional 610,970 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Snowflake during the 4th quarter worth about $838,455,000. Institutional investors and hedge funds 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.