Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Barclays Analyst Says

Snowflake (NYSE:SNOW) had its target price raised by stock analysts at Barclays from $142.00 to $172.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 1.70% from the stock’s current price.

Other analysts also recently issued reports about the company. Scotiabank reduced their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Robert W. Baird reduced their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research note on Tuesday. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.74.

Snowflake Trading Up 31.0 %

SNOW traded up $40.00 on Thursday, hitting $169.12. 17,495,438 shares of the company’s stock were exchanged, compared to its average volume of 6,549,656. The stock has a market cap of $56.69 billion, a price-to-earnings ratio of -54.39 and a beta of 0.83. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a 50-day moving average price of $117.82 and a 200-day moving average price of $127.89.

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

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the business’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 transaction, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC purchased a new stake in shares of Snowflake during the 1st quarter valued at about $29,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake in the second quarter worth $27,000. Groupama Asset Managment purchased a new stake in shares of Snowflake in the 3rd quarter worth $25,000. V Square Quantitative Management LLC bought a new position in Snowflake in the 3rd quarter worth $30,000. Finally, Global Financial Private Client LLC purchased a new position in shares of Snowflake in the first quarter worth $44,000. 65.10% of the stock is currently owned by institutional investors.

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.