Snowflake (NYSE:SNOW – Get Rating) had its price target cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $185.00 to $170.00 in a research note issued to investors on Monday, The Fly reports. Deutsche Bank Aktiengesellschaft's target price indicates a potential upside of 16.61% from the company's previous close.
Several other analysts also recently weighed in on the stock. Oppenheimer decreased their price target on shares of Snowflake from $230.00 to $190.00 in a research note on Thursday, December 1st. Sanford C. Bernstein initiated coverage on shares of Snowflake in a report on Tuesday, October 11th. They issued a "market perform" rating on the stock. Wedbush initiated coverage on shares of Snowflake in a research report on Wednesday, December 14th. They issued a "neutral" rating and a $144.00 price objective for the company. Needham & Company LLC reduced their price target on shares of Snowflake from $240.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday, December 1st. Finally, StockNews.com initiated coverage on shares of Snowflake in a research report on Wednesday, October 12th. They set a "sell" rating for the company. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.28.
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Snowflake Trading Down 3.0 %
Shares of SNOW opened at $145.79 on Monday. The business's fifty day simple moving average is $142.07 and its two-hundred day simple moving average is $156.76. The company has a market cap of $46.89 billion, a price-to-earnings ratio of -63.66 and a beta of 0.72. Snowflake has a 12 month low of $110.26 and a 12 month high of $329.49.
Snowflake (NYSE:SNOW – Get Rating) last posted its quarterly earnings results on Wednesday, November 30th. The company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.14). The business had revenue of $557.03 million for the quarter, compared to the consensus estimate of $535.81 million. Snowflake had a negative net
margin of 38.79% and a negative return on equity of 12.98%. As a group, research analysts forecast that Snowflake will post -2.08 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Frank Slootman sold 1,311 shares of Snowflake stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $142.59, for a total value of $186,935.49. Following the sale, the chief executive officer now owns 133,011 shares of the company's stock, valued at $18,966,038.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Benoit Dageville sold 724 shares of the business's stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $142.59, for a total transaction of $103,235.16. Following the sale, the insider now owns 14,404 shares of the company's stock, valued at $2,053,866.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank Slootman sold 1,311 shares of the business's stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $142.59, for a total transaction of $186,935.49. Following the sale, the chief executive officer now directly owns 133,011 shares in the company, valued at approximately $18,966,038.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,035 shares of company stock valued at $30,642,171. Insiders own 8.90% of the company's stock.
Institutional Trading of Snowflake
A number of institutional investors have recently added to or reduced their stakes in SNOW. Keybank National Association OH raised its position in Snowflake by 131.3% during the second quarter. Keybank National Association OH now owns 35,209 shares of the company's stock worth $4,896,000 after acquiring an additional 19,990 shares during the last quarter. AE Wealth Management LLC raised its position in Snowflake by 205.1% during the second quarter. AE Wealth Management LLC now owns 5,443 shares of the company's stock worth $757,000 after acquiring an additional 3,659 shares during the last quarter. MQS Management LLC acquired a new position in Snowflake during the second quarter worth about $208,000. E&G Advisors LP raised its position in shares of Snowflake by 7.1% in the third quarter. E&G Advisors LP now owns 1,820 shares of the company's stock valued at $309,000 after buying an additional 120 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Snowflake by 77.4% in the second quarter. Handelsbanken Fonder AB now owns 60,936 shares of the company's stock valued at $8,474,000 after buying an additional 26,586 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company's stock.
Snowflake Company Profile
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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
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