Snowflake (NYSE:SNOW) Now Covered by Analysts at KeyCorp

KeyCorp started coverage on shares of Snowflake (NYSE:SNOW) in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $185.00 target price on the stock.

SNOW has been the topic of several other reports. Guggenheim raised shares of Snowflake from a sell rating to a neutral rating in a report on Friday, March 15th. JMP Securities upped their target price on Snowflake from $212.00 to $235.00 and gave the stock a market outperform rating in a research note on Thursday, February 29th. StockNews.com raised Snowflake from a sell rating to a hold rating in a report on Wednesday, April 3rd. Macquarie raised Snowflake from a neutral rating to an outperform rating and boosted their price target for the company from $182.00 to $205.00 in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Snowflake from $200.00 to $170.00 and set an overweight rating on the stock in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, Snowflake has a consensus rating of Moderate Buy and a consensus target price of $202.00.

Snowflake Trading Up 4.2 %

Snowflake stock opened at $159.37 on Thursday. The business’s 50-day simple moving average is $186.18 and its two-hundred day simple moving average is $178.97. Snowflake has a fifty-two week low of $135.26 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. As a group, analysts expect that Snowflake will post -1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the transaction, the senior vice president now owns 726,567 shares of the company’s stock, valued at $167,110,410. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,555 shares of company stock worth $36,918,917. 8.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently made changes to their positions in the stock. Accent Capital Management LLC purchased a new position in shares of Snowflake during the fourth quarter worth $25,000. Mango Five Family Inc. purchased a new position in Snowflake during the 4th quarter valued at about $26,000. Ulland Investment Advisors LLC grew its position in Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after acquiring an additional 135 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Finally, Provence Wealth Management Group acquired a new stake in shares of Snowflake during the third quarter worth about $30,000. Hedge funds and other 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.