Stifel Nicolaus Boosts Snowflake (NYSE:SNOW) Price Target to $220.00

Snowflake (NYSE:SNOW) had its price target hoisted by analysts at Stifel Nicolaus from $210.00 to $220.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 10.01% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SNOW. Morgan Stanley boosted their target price on shares of Snowflake from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday. KeyCorp decreased their price objective on Snowflake from $220.00 to $192.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Monness Crespi & Hardt raised their target price on Snowflake from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Daiwa America raised Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $225.00 price target (up from $200.00) on shares of Snowflake in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $217.33.

Snowflake Stock Down 1.6%

SNOW stock opened at $199.99 on Thursday. The stock has a fifty day moving average of $159.20 and a 200-day moving average of $163.56. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $205.40. The company has a market capitalization of $66.02 billion, a price-to-earnings ratio of -58.99 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during 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 quarter last year, the business earned $0.14 earnings per share. As a group, equities research analysts predict that Snowflake will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,963 shares of company stock worth $58,204,058 in the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in Snowflake in the 1st quarter worth $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $29,000. CVA Family Office LLC grew its stake in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new stake in shares of Snowflake in the fourth quarter worth about $31,000. Finally, Spurstone Advisory Services LLC purchased a new position in Snowflake during the 4th quarter valued at about $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.