UBS Group Lowers Snowflake (NYSE:SNOW) Price Target to $125.00

Snowflake (NYSE:SNOW) had its price objective dropped by investment analysts at UBS Group from $155.00 to $125.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 11.00% from the company’s previous close.

A number of other research firms have also recently commented on SNOW. Evercore ISI cut their price target on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Citigroup cut their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of Snowflake in a research note on Monday, August 19th. Royal Bank of Canada dropped their price target on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Piper Sandler restated an “overweight” rating and set a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $175.17.

Snowflake Trading Up 0.1 %

Shares of Snowflake stock opened at $112.61 on Tuesday. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a market capitalization of $37.75 billion, a P/E ratio of -40.76 and a beta of 0.83. The business has a fifty day simple moving average of $119.99 and a two-hundred day simple moving average of $138.43.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the firm earned ($0.52) earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts predict that Snowflake will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In related news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. Insiders sold 45,386 shares of company stock valued at $5,715,941 in the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $25,000. LRI Investments LLC increased its stake in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the 2nd quarter valued at about $27,000. Riverview Trust Co bought a new position in Snowflake in the 1st quarter worth about $31,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Snowflake during the first quarter valued at approximately $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.