Snowflake (NYSE:SNOW) Given New $146.00 Price Target at Barclays

Snowflake (NYSE:SNOW) had its price objective dropped by investment analysts at Barclays from $191.00 to $146.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 14.03% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Mizuho lowered their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Scotiabank lowered their target price on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 target price on shares of Snowflake in a report on Monday, July 1st. Piper Sandler lowered their target price on shares of Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Snowflake in a research report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.47.

Snowflake Stock Up 0.8 %

Snowflake stock opened at $128.04 on Monday. Snowflake has a 52 week low of $107.93 and a 52 week high of $237.72. The company’s 50 day moving average price is $129.92 and its two-hundred day moving average price is $156.83. The stock has a market cap of $42.87 billion, a P/E ratio of -45.73 and a beta of 0.85.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. On average, equities analysts anticipate that Snowflake will post -2.31 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Insiders sold a total of 534,178 shares of company stock valued at $66,520,575 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $25,000. LRI Investments LLC grew its position in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Snowflake during the 2nd quarter valued at $27,000. Riverview Trust Co bought a new position in shares of Snowflake during the 1st quarter valued at $31,000. Finally, Hartford Financial Management Inc. purchased a new position in shares of Snowflake in the 1st quarter worth $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.