Snowflake (NYSE:SNOW) Price Target Raised to $200.00

Snowflake (NYSE:SNOW – Get Rating) had its price objective hoisted by Wells Fargo & Company from $170.00 to $200.00 in a research report released on Tuesday, The Fly reports.

A number of other research analysts also recently issued reports on SNOW. Stifel Nicolaus raised shares of Snowflake from a hold rating to a buy rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Monday, May 8th. StockNews.com began coverage on shares of Snowflake in a research note on Thursday, May 18th. They issued a sell rating on the stock. Rosenblatt Securities dropped their price target on shares of Snowflake from $200.00 to $188.00 in a research note on Friday, March 3rd. Barclays dropped their price target on shares of Snowflake from $180.00 to $171.00 and set an overweight rating on the stock in a research note on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Snowflake from $185.00 to $170.00 in a research note on Monday, January 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $184.54.

Snowflake Stock Performance

NYSE SNOW opened at $147.91 on Tuesday. Snowflake has a 52-week low of $110.26 and a 52-week high of $205.66. The company has a 50-day simple moving average of $151.30 and a 200 day simple moving average of $147.97. The company has a market capitalization of $48.07 billion, a PE ratio of -59.16 and a beta of 0.74.

Snowflake (NYSE:SNOW – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.12). Snowflake had a negative net margin of 38.57% and a negative return on equity of 13.87%. The firm had revenue of $589.01 million for the quarter, compared to analysts’ expectations of $571.57 million. As a group, analysts forecast that Snowflake will post -1.63 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 13,182 shares of Snowflake stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $180.00, for a total value of $2,372,760.00. Following the transaction, the insider now owns 43,063 shares in the company, valued at $7,751,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Benoit Dageville sold 13,182 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $180.00, for a total transaction of $2,372,760.00. Following the sale, the insider now owns 43,063 shares in the company, valued at $7,751,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dennis Mcmahon sold 10,053 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $139.98, for a total value of $1,407,218.94. Following the sale, the director now owns 155,902 shares in the company, valued at approximately $21,823,161.96. The disclosure for this sale can be found here. Insiders have sold 309,301 shares of company stock worth $44,133,577 over the last quarter. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Snowflake by 822.2% during the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock worth $38,000 after purchasing an additional 148 shares during the period. BerganKDV Wealth Management LLC lifted its holdings in shares of Snowflake by 153.7% during the first quarter. BerganKDV Wealth Management LLC now owns 170 shares of the company’s stock worth $26,000 after purchasing an additional 103 shares during the period. VitalStone Financial LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $26,000. Finally, Accurate Wealth Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

About Snowflake

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.