Analysts Set Snowflake Inc. (NYSE:SNOW) PT at $174.74

Snowflake Inc. (NYSE:SNOW) has been assigned a consensus rating of “Moderate Buy” from the thirty-eight research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and twenty-five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $174.74.

SNOW has been the subject of several research analyst reports. Wells Fargo & Company cut their price target on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. TD Cowen cut their price target on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. DA Davidson restated a “buy” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. Stifel Nicolaus cut their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Loop Capital lowered their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after acquiring an additional 297,428 shares in the last quarter. Jennison Associates LLC increased its position in Snowflake by 3.7% during the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after buying an additional 249,249 shares in the last quarter. Legal & General Group Plc increased its position in Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares in the last quarter. Swedbank AB acquired a new position in Snowflake during the 1st quarter valued at about $258,957,000. Finally, Bank of New York Mellon Corp increased its position in Snowflake by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock valued at $216,142,000 after buying an additional 8,743 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 1.0 %

NYSE:SNOW opened at $117.23 on Friday. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The stock has a 50-day moving average price of $115.31 and a 200 day moving average price of $131.39. The stock has a market capitalization of $39.30 billion, a P/E ratio of -38.31 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.52) EPS. On average, research analysts predict that Snowflake will post -2.41 earnings per share for the current fiscal year.

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.