Cantor Fitzgerald Cuts Snowflake (NYSE:SNOW) Price Target to $225.00

Snowflake (NYSE:SNOW) had its price objective decreased by equities research analysts at Cantor Fitzgerald from $250.00 to $225.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 30.83% from the stock’s previous close.

A number of other equities analysts also recently commented on SNOW. Scotiabank reduced their price objective on Snowflake from $290.00 to $205.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 26th. The Goldman Sachs Group reduced their price objective on Snowflake from $286.00 to $246.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Needham & Company LLC reduced their price objective on Snowflake from $280.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Evercore set a $200.00 price objective on Snowflake in a research report on Tuesday, April 14th. Finally, UBS Group reduced their target price on Snowflake from $235.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $241.51.

Snowflake Stock Performance

NYSE SNOW opened at $171.98 on Tuesday. The company has a market cap of $59.45 billion, a PE ratio of -43.54 and a beta of 1.08. The stock’s 50 day simple moving average is $153.77 and its 200-day simple moving average is $191.91. Snowflake has a 1-year low of $118.30 and a 1-year high of $280.67. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Snowflake will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 144,650 shares of Snowflake stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $175.45, for a total value of $25,378,842.50. Following the sale, the director owned 38,046 shares in the company, valued at $6,675,170.70. The trade was a 79.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $141.59, for a total transaction of $57,060.77. Following the transaction, the director directly owned 22,509 shares of the company’s stock, valued at $3,187,049.31. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 428,963 shares of company stock valued at $71,996,216. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. purchased a new stake in shares of Snowflake in the 4th quarter valued at $28,000. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at $29,000. GoalVest Advisory LLC raised its holdings in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares during the period. Physician Wealth Advisors Inc. raised its holdings in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares during the period. Finally, Emerald Advisers LLC raised its holdings in shares of Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock valued at $31,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.