Barclays Boosts Snowflake (NYSE:SNOW) Price Target to $191.00

Snowflake (NYSE:SNOW) had its price objective hoisted by Barclays from $188.00 to $191.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently weighed in on SNOW. Redburn Atlantic reaffirmed a sell rating and set a $125.00 price objective (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Morgan Stanley reaffirmed an equal weight rating and set a $175.00 price target (down from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. BNP Paribas raised shares of Snowflake from a neutral rating to an outperform rating and set a $200.00 price objective on the stock in a research report on Thursday, May 2nd. Needham & Company LLC decreased their target price on shares of Snowflake from $240.00 to $210.00 and set a buy rating for the company in a research report on Thursday. Finally, Royal Bank of Canada lowered their price target on shares of Snowflake from $246.00 to $220.00 and set an outperform rating on the stock in a research note on Monday, May 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $200.64.

Snowflake Stock Performance

Shares of SNOW stock opened at $156.16 on Thursday. Snowflake has a 52 week low of $138.40 and a 52 week high of $237.72. The company’s 50 day moving average price is $157.03 and its two-hundred day moving average price is $180.31.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million for 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%. On average, analysts predict that Snowflake will post -1.83 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Mark D. Mclaughlin purchased 3,030 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $165.45 per share, for a total transaction of $501,313.50. Following the completion of the transaction, the director now owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,380 shares of company stock worth $9,803,625. Corporate insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Yousif Capital Management LLC lifted its stake in Snowflake by 5.7% during the third quarter. Yousif Capital Management LLC now owns 2,972 shares of the company’s stock worth $454,000 after purchasing an additional 160 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Snowflake by 13.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,049 shares of the company’s stock worth $619,000 after buying an additional 471 shares during the last quarter. Private Advisor Group LLC boosted its stake in Snowflake by 27.3% in the third quarter. Private Advisor Group LLC now owns 15,297 shares of the company’s stock valued at $2,337,000 after buying an additional 3,277 shares in the last quarter. Victory Capital Management Inc. grew its position in Snowflake by 3.3% in the third quarter. Victory Capital Management Inc. now owns 335,916 shares of the company’s stock valued at $51,318,000 after acquiring an additional 10,592 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its stake in Snowflake by 0.9% during the third quarter. Picton Mahoney Asset Management now owns 18,981 shares of the company’s stock worth $2,901,000 after acquiring an additional 162 shares in the last quarter. Institutional investors 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.