Snowflake (NYSE:SNOW) Price Target Cut to $125.00

Snowflake (NYSE:SNOW) had its price objective decreased by stock analysts at UBS Group from $155.00 to $125.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 13.37% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Citigroup cut their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Royal Bank of Canada dropped their price target on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Mizuho decreased their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price target on shares of Snowflake in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $175.17.

Snowflake Price Performance

NYSE:SNOW traded down $3.00 during mid-day trading on Tuesday, reaching $110.26. The company’s stock had a trading volume of 2,445,443 shares, compared to its average volume of 6,635,853. The stock has a market cap of $36.92 billion, a P/E ratio of -39.48 and a beta of 0.83. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company’s fifty day simple moving average is $120.46 and its two-hundred day simple moving average is $138.78.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period in the previous year, the business earned ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. Sell-side analysts expect that Snowflake will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $23,877,196.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $23,877,196.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,083 shares of company stock worth $6,089,392. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently bought and sold shares of SNOW. Commerce Bank boosted its holdings in Snowflake by 0.8% during the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after buying an additional 51 shares in the last quarter. Park Avenue Securities LLC increased its position in Snowflake by 0.5% during the first quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock worth $2,179,000 after purchasing an additional 70 shares during the last quarter. Covestor Ltd increased its position in Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares during the last quarter. IAM Advisory LLC increased its position in Snowflake by 2.0% during the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after purchasing an additional 74 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC increased its position in shares of Snowflake by 2.6% during the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock valued at $478,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

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.