Snowflake (NYSE:SNOW) Given New $190.00 Price Target at UBS Group

Snowflake (NYSE:SNOW) had its price target hoisted by investment analysts at UBS Group from $185.00 to $190.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 19.46% from the stock’s current price.

A number of other analysts have also commented on the company. Mizuho reissued a “buy” rating and issued a $205.00 target price (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Needham & Company LLC decreased their price target on shares of Snowflake from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America cut their price objective on Snowflake from $212.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Evercore ISI lowered their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Finally, Truist Financial reduced their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $200.11.

Snowflake Price Performance

NYSE SNOW traded down $4.29 during trading hours on Thursday, reaching $159.05. 8,206,231 shares of the company’s stock traded hands, compared to its average volume of 6,040,280. Snowflake has a 52-week low of $138.40 and a 52-week high of $237.72. The firm has a 50-day simple moving average of $157.13 and a 200 day simple moving average of $180.26. The firm has a market cap of $53.15 billion, a PE ratio of -62.02 and a beta of 0.90.

Snowflake (NYSE:SNOW) last posted 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. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Sell-side analysts forecast that Snowflake will post -1.83 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, insider Benoit Dageville sold 689 shares of the business’s 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 transaction, the insider now directly owns 70,665 shares in the company, valued at approximately $11,406,744.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the sale, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the sale, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,380 shares of company stock valued at $9,803,625. 8.30% of the stock is owned by insiders.

Institutional Trading of Snowflake

Several hedge funds have recently added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new position in Snowflake in the fourth quarter valued at $25,000. LRI Investments LLC acquired a new position in Snowflake in the first quarter valued at approximately $29,000. Provence Wealth Management Group acquired a new stake in Snowflake during the third quarter worth approximately $30,000. Global Wealth Management Investment Advisory Inc. grew its position in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in Snowflake in the first quarter valued at $31,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.