Snowflake (NYSE:SNOW) PT Lowered to $220.00

Snowflake (NYSE:SNOWGet Free Report) had its price objective decreased by investment analysts at Royal Bank of Canada from $246.00 to $220.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 35.24% from the stock’s current price.

A number of other brokerages have also issued reports on SNOW. Mizuho reiterated a “buy” rating and issued a $205.00 price target (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Friday, April 5th. Canaccord Genuity Group reissued a “buy” rating and set a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Snowflake from $200.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.69.

View Our Latest Stock Analysis on SNOW

Snowflake Stock Down 1.3 %

SNOW stock opened at $162.67 on Monday. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72. The stock has a market capitalization of $54.36 billion, a price-to-earnings ratio of -63.79 and a beta of 0.90. The firm’s fifty day simple moving average is $157.11 and its two-hundred day simple moving average is $180.38.

Snowflake (NYSE:SNOWGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, equities research analysts expect that Snowflake will post -1.83 EPS for the current year.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares in the company, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,380 shares of company stock valued at $9,803,625. Corporate insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in shares of Snowflake during the 4th quarter worth approximately $790,000. Sequoia Financial Advisors LLC grew its position in Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after acquiring an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Snowflake during the third quarter worth about $458,000. Glynn Capital Management LLC boosted its stake in shares of Snowflake by 3.1% in the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after purchasing an additional 5,629 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Snowflake by 55.9% in the fourth quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after purchasing an additional 105,937 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Company Profile

(Get Free Report)

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.

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