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

Snowflake (NYSE:SNOW - Get Free Report) had its target price hoisted by analysts at Oppenheimer from $225.00 to $250.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 18.14% from the stock's previous close.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada raised their price target on Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday. Cantor Fitzgerald boosted their price target on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Bank of America lifted their price objective on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price target on shares of Snowflake in a research report on Thursday. Finally, Cowen reissued a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $221.97.

Snowflake Stock Performance

SNOW stock traded up $1.52 during midday trading on Friday, reaching $211.62. The stock had a trading volume of 1,917,904 shares, compared to its average volume of 6,349,010. Snowflake has a 52-week low of $107.13 and a 52-week high of $214.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $70.65 billion, a PE ratio of -62.46 and a beta of 1.21. The firm has a fifty day simple moving average of $168.14 and a two-hundred day simple moving average of $168.59.

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

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 5,027 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $199.06, for a total value of $1,000,674.62. Following the transaction, the chief accounting officer now owns 40,608 shares in the company, valued at approximately $8,083,428.48. The trade was a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 685 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now directly owns 622,611 shares of the company's stock, valued at $91,673,243.64. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,779 shares of company stock valued at $159,318,643. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several institutional investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after buying an additional 8,857 shares in the last quarter. Kirtland Hills Capital Management LLC grew its stake 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 valued at $2,458,000 after purchasing an additional 4,559 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Snowflake by 455.1% in the 4th 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 during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Snowflake in the fourth quarter worth $3,088,000. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $237,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.