Snowflake (NYSE:SNOW) Price Target Raised to $200.00 at KeyCorp

Snowflake (NYSE:SNOW) had its price target upped by KeyCorp from $185.00 to $200.00 in a research note issued to investors on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on SNOW. Monness Crespi & Hardt upgraded Snowflake from a sell rating to a neutral rating in a research note on Monday, March 18th. Wedbush reiterated a neutral rating and set a $210.00 price target on shares of Snowflake in a research note on Wednesday. Truist Financial lowered their price objective on shares of Snowflake from $250.00 to $210.00 and set a buy rating for the company in a research note on Thursday, February 29th. HSBC reaffirmed a reduce rating on shares of Snowflake in a research note on Thursday, February 29th. Finally, BNP Paribas upgraded shares of Snowflake from a neutral rating to an outperform rating and set a $200.00 price target for the company in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $200.64.

Snowflake Stock Up 1.0 %

Shares of Snowflake stock opened at $156.16 on Thursday. The firm has a market cap of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90. Snowflake has a 52 week low of $138.40 and a 52 week high of $237.72. The business’s fifty day simple moving average is $157.03 and its 200-day simple moving average is $180.31.

Snowflake (NYSE:SNOW) last announced its 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. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. As a group, equities analysts expect that Snowflake will post -1.83 earnings per share for the current year.

Insider Activity at Snowflake

In other news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Benoit Dageville sold 689 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares in the company, valued at $13,915,695.36. The disclosure for this sale can be found here. Insiders have sold a total of 62,380 shares of company stock worth $9,803,625 in the last three months. Insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after buying an additional 297,428 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after acquiring an additional 249,249 shares during the period. FMR LLC increased its stake in Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares in the last quarter. Sands Capital Management LLC raised its holdings in Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after purchasing an additional 610,970 shares during the last quarter. Finally, Norges Bank purchased a new stake in Snowflake during the fourth quarter worth $838,455,000. Institutional investors and hedge funds 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.