Snowflake (NYSE:SNOW) Given New $250.00 Price Target at DA Davidson

Snowflake (NYSE:SNOW) had its price target lifted by DA Davidson from $200.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Bank of America upped their price target on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Daiwa Capital Markets began coverage on Snowflake in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Snowflake from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday. HSBC lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on Snowflake from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $216.46.

Snowflake Stock Performance

Shares of SNOW opened at $203.35 on Thursday. The business’s 50 day moving average is $158.29 and its two-hundred day moving average is $162.99. Snowflake has a 52-week low of $107.13 and a 52-week high of $204.00. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of -59.99 and a beta of 1.11. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. Analysts forecast that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares of the company’s stock, valued at $102,186,956.25. This represents a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 356,963 shares of company stock valued at $58,204,058. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNOW. Opal Wealth Advisors LLC bought a new position in Snowflake during the first quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the fourth quarter valued at $29,000. CVA Family Office LLC lifted its holdings in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. West Paces Advisors Inc. purchased a new stake in shares of Snowflake during the fourth quarter valued at $31,000. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake during the fourth quarter valued at $31,000. Institutional investors 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.