Snowflake (NYSE:SNOW) Price Target Raised to $245.00 at Monness Crespi & Hardt

Snowflake (NYSE:SNOW - Get Free Report) had its price objective raised by analysts at Monness Crespi & Hardt from $230.00 to $245.00 in a report released on Thursday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the stock. Monness Crespi & Hardt's target price indicates a potential upside of 17.76% from the company's current price.

Several other brokerages also recently weighed in on SNOW. Rosenblatt Securities reiterated a "buy" rating and issued a $205.00 price target on shares of Snowflake in a report on Monday, May 19th. Stifel Nicolaus raised their price objective on shares of Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Jefferies Financial Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Macquarie assumed coverage on shares of Snowflake in a research note on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 price objective on the stock. Finally, DA Davidson dropped their price objective on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $217.33.

Snowflake Stock Performance

NYSE:SNOW traded up $8.00 during midday trading on Thursday, hitting $208.05. The company's stock had a trading volume of 4,308,355 shares, compared to its average volume of 6,469,773. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $207.90. The firm's 50 day moving average is $160.09 and its 200-day moving average is $164.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $68.68 billion, a P/E ratio of -61.26 and a beta of 1.11.

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

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their position. The sale was disclosed in a filing 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 dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the sale, the executive vice president now owns 594,975 shares in the company, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,963 shares of company stock worth $58,204,058. Company insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Snowflake in the 1st quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new position in Snowflake in the 4th quarter valued at about $29,000. CVA Family Office LLC grew its position in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new position in Snowflake in the 4th quarter valued at about $31,000. Finally, Spurstone Advisory Services LLC acquired a new position in Snowflake in the 4th quarter valued at about $31,000. 65.10% of the stock is 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.