Macquarie Boosts Snowflake (NYSE:SNOW) Price Target to $210.00

Snowflake (NYSE:SNOW - Free Report) had its price objective lifted by Macquarie from $190.00 to $210.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also commented on SNOW. BTIG Research reiterated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $219.00 target price (up from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Scotiabank reissued an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $215.00 price objective (up from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average target price of $221.28.

Snowflake Price Performance

NYSE SNOW traded up $0.39 during trading hours on Wednesday, hitting $209.99. 5,229,333 shares of the company's stock traded hands, compared to its average volume of 6,366,464. The company has a market capitalization of $70.11 billion, a PE ratio of -61.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 52-week low of $107.13 and a 52-week high of $214.83. The firm's 50-day moving average is $168.14 and its 200-day moving average is $168.59.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $0.14 earnings per share. The business's revenue was up 25.8% compared to the same quarter last year. Equities analysts forecast that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares of the company's stock, valued at $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 available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the business'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 sale, the executive vice president now owns 570,632 shares of the company's stock, valued at approximately $117,361,883.44. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 849,779 shares of company stock worth $159,318,643. Corporate insiders own 6.80% of the company's stock.

Institutional Trading of Snowflake

Several institutional investors have recently modified their holdings of SNOW. Sumitomo Mitsui Trust Group Inc. raised its stake in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after acquiring an additional 8,857 shares in the last quarter. Kirtland Hills Capital Management LLC grew its holdings in shares of Snowflake by 40.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after purchasing an additional 4,559 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Snowflake by 455.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after purchasing an additional 101,806 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Snowflake in the 4th quarter valued at about $3,088,000. Finally, Onyx Bridge Wealth Group LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at about $237,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

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.