Snowflake (NYSE:SNOW) Given New $191.00 Price Target at Barclays

Snowflake (NYSE:SNOW) had its price target increased by Barclays from $188.00 to $191.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently weighed in on SNOW. Needham & Company LLC decreased their target price on shares of Snowflake from $240.00 to $210.00 and set a buy rating for the company in a research note on Thursday. KeyCorp boosted their price target on Snowflake from $185.00 to $200.00 and gave the stock an overweight rating in a research note on Thursday. Oppenheimer reissued an outperform rating and issued a $220.00 price target on shares of Snowflake in a report on Thursday. UBS Group lifted their price objective on Snowflake from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday. Finally, Redburn Atlantic reiterated a sell rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Three 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 company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Trading Up 1.0 %

Shares of Snowflake stock opened at $156.16 on Thursday. The business’s fifty day moving average price is $157.03 and its 200 day moving average price is $180.46. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72. The stock has a market capitalization of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. As a group, sell-side analysts predict that Snowflake will post -1.83 EPS for the current year.

Insider Activity

In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of Snowflake stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Frank Slootman sold 19,764 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.66, for a total value of $3,096,228.24. Following the sale, the chief executive officer now directly owns 233,297 shares in the company, valued at approximately $36,548,308.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sridhar Ramaswamy bought 31,542 shares of Snowflake stock in a transaction dated Monday, March 25th. The shares were bought at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 62,380 shares of company stock valued at $9,803,625. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Snowflake by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after acquiring an additional 297,428 shares in the last quarter. Jennison Associates LLC boosted its position in Snowflake by 3.7% during the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after purchasing an additional 249,249 shares during the last quarter. FMR LLC grew its stake in Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares in the last quarter. Sands Capital Management LLC increased its position in Snowflake by 12.6% in 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 during 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.

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.