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

Snowflake (NYSE:SNOW - Free Report) had its target price raised by DA Davidson from $200.00 to $250.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on SNOW. JMP Securities reaffirmed a "market outperform" rating and issued a $201.00 target price on shares of Snowflake in a research note on Tuesday. Cantor Fitzgerald raised their target price on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday. Jefferies Financial Group raised their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday. Monness Crespi & Hardt raised their target price on shares of Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Mizuho set a $215.00 target price on shares of Snowflake and gave the company an "outperform" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $217.33.

Snowflake Price Performance

Shares of Snowflake stock traded down $3.19 on Thursday, reaching $199.99. The stock had a trading volume of 11,901,781 shares, compared to its average volume of 6,474,139. Snowflake has a 1 year low of $107.13 and a 1 year high of $205.40. The company has a market cap of $66.02 billion, a P/E ratio of -58.99 and a beta of 1.11. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The business's 50 day moving average is $159.20 and its two-hundred day moving average is $163.86.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, research analysts anticipate that Snowflake will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,783 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares of the company's stock, valued at approximately $28,345,319.64. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. This represents a 50.62% decrease in their position. 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 over the last quarter. Corporate insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Snowflake during the first quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $29,000. CVA Family Office LLC raised its position in shares of Snowflake by 80.0% in the 1st 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. purchased a new position in shares of Snowflake in the 4th quarter worth about $31,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $31,000. Hedge funds and other institutional investors 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.