Snowflake (NYSE:SNOW) PT Lowered to $125.00

Snowflake (NYSE:SNOW) had its price objective cut by equities researchers at Wells Fargo & Company from $130.00 to $125.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.91% from the stock’s previous close.

Several other research firms also recently weighed in on SNOW. Barclays reduced their price objective on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Snowflake in a research note on Thursday. 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. Loop Capital decreased their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Robert W. Baird dropped their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five 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 a consensus target price of $176.03.

Snowflake Trading Up 0.5 %

NYSE SNOW opened at $115.84 on Thursday. The company has a 50-day moving average price of $129.74 and a two-hundred day moving average price of $154.61. Snowflake has a 52 week low of $107.93 and a 52 week high of $237.72. The stock has a market cap of $38.78 billion, a price-to-earnings ratio of -41.37 and a beta of 0.85.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.52) EPS. As a group, equities research analysts expect that Snowflake will post -2.31 earnings per share for the current fiscal year.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated 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 owns 718,773 shares of the company’s stock, valued at $86,252,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Grzegorz Czajkowski sold 469,120 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the transaction, the executive vice president now directly owns 494,942 shares in the company, valued at approximately $60,922,410.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 527,678 shares of company stock worth $65,491,235. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in SNOW. Comerica Bank grew its holdings in Snowflake by 17.2% in the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after buying an additional 4,296 shares during the last quarter. Choreo LLC grew its stake in shares of Snowflake by 18.6% in the first quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after acquiring an additional 1,294 shares during the last quarter. Trexquant Investment LP increased its position in Snowflake by 266.3% during the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after acquiring an additional 7,633 shares during the period. Ridgewood Investments LLC acquired a new position in Snowflake during the 1st quarter valued at $244,000. Finally, Cetera Investment Advisers boosted its holdings in Snowflake by 201.5% in the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after purchasing an additional 42,563 shares during the period. 65.10% of the stock is currently owned by 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.