Oppenheimer Cuts Snowflake (NYSE:SNOW) Price Target to $230.00

Snowflake (NYSE:SNOWGet Rating) had its price objective lowered by Oppenheimer from $280.00 to $230.00 in a research report report published on Thursday, The Fly reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the company. Mizuho reduced their price target on Snowflake from $370.00 to $225.00 and set a buy rating on the stock in a research report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Snowflake from $375.00 to $300.00 and set a buy rating on the stock in a research report on Thursday, March 3rd. UBS Group reduced their target price on Snowflake from $260.00 to $180.00 and set a buy rating on the stock in a report on Monday, May 23rd. Morgan Stanley reduced their target price on Snowflake from $355.00 to $322.00 and set an overweight rating on the stock in a report on Thursday, May 19th. Finally, Exane BNP Paribas lowered Snowflake from a neutral rating to an underperform rating and set a $190.00 target price on the stock. in a report on Tuesday, March 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $225.86.

SNOW stock opened at $129.91 on Thursday. The business has a fifty day moving average price of $183.80 and a 200 day moving average price of $260.70. Snowflake has a fifty-two week low of $112.10 and a fifty-two week high of $405.00. The stock has a market capitalization of $40.87 billion, a price-to-earnings ratio of -56.98 and a beta of 1.80.

Snowflake (NYSE:SNOWGet Rating) last announced its quarterly earnings data on Wednesday, May 25th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.47. The firm had revenue of $422.37 million for the quarter, compared to analyst estimates of $413.01 million. Snowflake had a negative return on equity of 13.45% and a negative net margin of 55.76%. The business’s quarterly revenue was up 84.5% compared to the same quarter last year. During the same period last year, the company earned ($0.69) EPS. As a group, equities research analysts forecast that Snowflake will post -1.6 earnings per share for the current year.

In other news, Director Michael L. Speiser sold 750,000 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $222.18, for a total transaction of $166,635,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Level Financial Advisors Inc. increased its holdings in shares of Snowflake by 475.0% during the first quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock worth $26,000 after buying an additional 95 shares in the last quarter. Glassman Wealth Services increased its holdings in Snowflake by 233.3% in the fourth quarter. Glassman Wealth Services now owns 80 shares of the company’s stock valued at $27,000 after purchasing an additional 56 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Capital Advisory Group Advisory Services LLC acquired a new stake in Snowflake in the first quarter valued at $30,000. Finally, Tcwp LLC acquired a new stake in Snowflake in the first quarter valued at $30,000. Institutional investors and hedge funds own 76.67% of the company’s stock.

Snowflake Company Profile (Get Rating)

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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