UBS Group Boosts Snowflake (NYSE:SNOW) Price Target to $210.00

Snowflake (NYSE:SNOW) had its price objective upped by research analysts at UBS Group from $200.00 to $210.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 5.01% from the company’s current price.

SNOW has been the topic of a number of other research reports. Mizuho set a $215.00 target price on shares of Snowflake and gave the stock an “outperform” rating in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $205.00 target price on shares of Snowflake in a research report on Monday, May 19th. JMP Securities restated a “market outperform” rating and set a $201.00 target price on shares of Snowflake in a research report on Tuesday. Oppenheimer raised their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Citigroup raised their target price on shares of Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.33.

Snowflake Stock Down 1.6%

SNOW stock opened at $199.99 on Thursday. The company’s 50 day simple moving average is $159.20 and its 200-day simple moving average is $163.56. The firm has a market capitalization of $66.02 billion, a PE ratio of -58.99 and a beta of 1.11. Snowflake has a 12 month low of $107.13 and a 12 month high of $205.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 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 net margin of 33.02% and a negative return on equity of 24.23%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 earnings per share. Equities analysts expect that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the completion of the transaction, the executive vice president now directly owns 580,632 shares of the company’s stock, valued at $97,546,176. This trade represents a 1.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have 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 hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the period. Norges Bank acquired a new position in shares of Snowflake in the 4th quarter valued at about $988,950,000. FMR LLC boosted its stake in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. Finally, GQG Partners LLC acquired a new position in Snowflake during the 4th quarter valued at about $750,572,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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.