Snowflake (NYSE:SNOW) Price Target Raised to $250.00 at Macquarie

Snowflake (NYSE:SNOW) had its price objective raised by analysts at Macquarie from $235.00 to $250.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Macquarie’s price target would indicate a potential upside of 6.63% from the stock’s current price.

A number of other equities analysts also recently weighed in on SNOW. Monness Crespi & Hardt upped their target price on Snowflake from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial upped their price objective on shares of Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Mizuho increased their target price on shares of Snowflake from $260.00 to $285.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Piper Sandler restated an “overweight” rating and set a $285.00 price target on shares of Snowflake in a report on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Snowflake in a research note on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.05.

Snowflake Stock Down 11.5%

NYSE:SNOW traded down $30.54 during trading hours on Thursday, hitting $234.46. 21,577,173 shares of the stock traded hands, compared to its average volume of 5,193,700. The firm has a 50 day moving average price of $250.99 and a 200 day moving average price of $225.85. The firm has a market cap of $79.43 billion, a price-to-earnings ratio of -56.53 and a beta of 1.09. Snowflake has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Equities research analysts anticipate that Snowflake will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 7,551 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the transaction, the director directly owned 153,226 shares in the company, valued at $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 221,305 shares of company stock valued at $53,086,099. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in Snowflake by 1.9% in the 3rd quarter. IFP Advisors Inc now owns 11,773 shares of the company’s stock worth $2,655,000 after buying an additional 219 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Snowflake by 9.1% in the third quarter. Swiss Life Asset Management Ltd now owns 34,116 shares of the company’s stock valued at $7,695,000 after acquiring an additional 2,856 shares during the period. Investment Research Partners LLC acquired a new stake in shares of Snowflake in the third quarter worth $228,000. Strategic Advocates LLC bought a new position in Snowflake during the third quarter worth $45,000. Finally, Manhattan West Asset Management LLC raised its stake in Snowflake by 0.7% during the 3rd quarter. Manhattan West Asset Management LLC now owns 13,332 shares of the company’s stock valued at $3,007,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds 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.