Snowflake (NYSE:SNOW) Given New $191.00 Price Target at Barclays

Snowflake (NYSE:SNOW) had its price target increased by Barclays from $188.00 to $191.00 in a report issued on Thursday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Bank of America decreased their target price on Snowflake from $212.00 to $200.00 and set a neutral rating for the company in a research report on Wednesday, May 15th. JMP Securities reaffirmed a market outperform rating and issued a $235.00 target price on shares of Snowflake in a research report on Friday, May 17th. UBS Group upped their target price on Snowflake from $185.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday. Canaccord Genuity Group reaffirmed a buy rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Finally, Redburn Atlantic reaffirmed a sell rating and issued a $125.00 target price (down previously from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $200.64.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $156.16 on Thursday. The firm has a market capitalization of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90. The business has a 50-day moving average of $157.03 and a two-hundred day moving average of $180.46. Snowflake has a 12 month low of $138.40 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS 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 return on equity of 15.54% and a negative net margin of 30.80%. As a group, research analysts anticipate that Snowflake will post -1.83 earnings per share for the current year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares in the company, valued at approximately $124,504,006.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares in the company, valued at approximately $124,504,006.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the sale, the insider now owns 55,216 shares in the company, valued at $8,627,500. 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. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of the stock. Cetera Advisors LLC boosted its stake in shares of Snowflake by 76.5% during the 1st quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock worth $4,659,000 after acquiring an additional 12,497 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Snowflake by 201.5% in the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares during the period. Swedbank AB acquired a new stake in shares of Snowflake in the first quarter worth $258,957,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Snowflake in the first quarter worth $2,004,000. Finally, Arrow Financial Corp boosted its position in shares of Snowflake by 24.8% in the first quarter. Arrow Financial Corp now owns 7,604 shares of the company’s stock worth $1,229,000 after buying an additional 1,511 shares during the period. 65.10% of the stock is owned by institutional investors.

About Snowflake

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.