Brokerages Set Snowflake Inc. (NYSE:SNOW) Target Price at $202.77

Snowflake Inc. (NYSE:SNOW - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirty-three research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $202.77.

Several brokerages have commented on SNOW. Royal Bank of Canada dropped their target price on shares of Snowflake from $255.00 to $246.00 and set an "outperform" rating for the company in a research report on Thursday, February 29th. Needham & Company LLC lowered their price target on Snowflake from $265.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. Bank of America cut their price target on shares of Snowflake from $265.00 to $212.00 and set a "neutral" rating on the stock in a research report on Thursday, February 29th. HSBC restated a "reduce" rating on shares of Snowflake in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Snowflake from $200.00 to $170.00 and set an "overweight" rating on the stock in a research report on Thursday, February 29th.

Snowflake Trading Up 1.0 %

Snowflake stock traded up $1.55 during mid-day trading on Friday, hitting $159.32. The stock had a trading volume of 3,660,233 shares, compared to its average volume of 4,335,201. The stock has a 50-day simple moving average of $163.20 and a two-hundred day simple moving average of $178.80. The stock has a market capitalization of $53.24 billion, a PE ratio of -62.48 and a beta of 0.90. Snowflake has a 12 month low of $138.40 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Sell-side analysts expect that Snowflake will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of Snowflake stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now owns 31,542 shares of the company's stock, valued at approximately $5,000,037.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the company's stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the senior vice president now directly owns 736,567 shares of the company's stock, valued at approximately $162,044,740. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,458 shares of company stock valued at $33,785,640. 8.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SNOW. Joseph P. Lucia & Associates LLC grew its holdings in Snowflake by 2.6% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company's stock valued at $478,000 after buying an additional 75 shares in the last quarter. Clarity Capital Partners LLC boosted its position in shares of Snowflake by 37.1% in the first quarter. Clarity Capital Partners LLC now owns 10,039 shares of the company's stock valued at $1,622,000 after acquiring an additional 2,718 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Snowflake by 7.9% in the first quarter. Rehmann Capital Advisory Group now owns 1,655 shares of the company's stock valued at $267,000 after acquiring an additional 121 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in Snowflake by 116.3% during the first quarter. Chevy Chase Trust Holdings LLC now owns 384,190 shares of the company's stock worth $62,085,000 after acquiring an additional 206,589 shares during the period. Finally, Jennison Associates LLC raised its stake in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company's stock worth $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Institutional investors and hedge funds 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.