Snowflake (NYSE:SNOW) Price Target Raised to $245.00 at Loop Capital

Snowflake (NYSE:SNOW - Get Free Report) had its target price boosted by Loop Capital from $220.00 to $245.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Loop Capital's target price suggests a potential upside of 16.67% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Wall Street Zen raised Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Daiwa America raised Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Daiwa Capital Markets started coverage on Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective for the company. Needham & Company LLC upped their price objective on Snowflake from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Truist Financial upped their price objective on Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.28.

Snowflake Stock Up 0.2%

Shares of NYSE SNOW traded up $0.39 during mid-day trading on Wednesday, hitting $209.99. 5,229,333 shares of the stock traded hands, compared to its average volume of 6,366,464. 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 has a 52 week low of $107.13 and a 52 week high of $214.83. The company has a market cap of $70.11 billion, a price-to-earnings ratio of -61.94 and a beta of 1.21. The stock has a fifty day moving average price of $166.87 and a 200-day moving average price of $168.02.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. Research analysts anticipate that Snowflake will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $205.67, for a total value of $2,056,700.00. Following the transaction, the executive vice president now directly owns 570,632 shares in the company, valued at approximately $117,361,883.44. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 849,779 shares of company stock valued at $159,318,643 over the last quarter. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after acquiring an additional 316,573 shares during the last quarter. Norges Bank acquired a new position in Snowflake in the fourth quarter valued at approximately $988,950,000. FMR LLC lifted its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. GQG Partners LLC acquired a new position in Snowflake during the fourth quarter worth $750,572,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after purchasing an additional 763,673 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.