Snowflake (NYSE:SNOW) Price Target Cut to $155.00

Snowflake (NYSE:SNOW) had its price objective decreased by investment analysts at UBS Group from $171.00 to $155.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 17.50% from the stock’s previous close.

A number of other research firms also recently issued reports on SNOW. Oppenheimer reiterated an “outperform” rating and set a $220.00 price target on shares of Snowflake in a research note on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price target on shares of Snowflake in a research note on Monday. Canaccord Genuity Group cut their price target on Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Macquarie cut their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price target on shares of Snowflake in a research note on Monday, July 1st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $188.21.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $131.91 on Monday. The stock has a market cap of $44.16 billion, a price-to-earnings ratio of -47.11 and a beta of 0.85. Snowflake has a fifty-two week low of $107.93 and a fifty-two week high of $237.72. The firm’s 50-day simple moving average is $130.08 and its 200 day simple moving average is $155.73.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The company had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. On average, sell-side analysts predict that Snowflake will post -2.31 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the transaction, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now directly owns 36,076 shares in the company, valued at approximately $5,712,995.36. The disclosure for this sale can be found here. Insiders have sold 534,178 shares of company stock valued at $66,520,575 in the last 90 days. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNOW. Norges Bank purchased a new position in Snowflake in the fourth quarter worth $838,455,000. Swedbank AB purchased a new position in Snowflake in the first quarter worth $258,957,000. Vanguard Group Inc. grew its position in Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Snowflake in the first quarter worth $171,608,000. Finally, Trivest Advisors Ltd purchased a new position in Snowflake in the fourth quarter worth $173,747,000. Institutional investors 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.