Snowflake (NYSE:SNOW) Price Target Lowered to $200.00 at Robert W. Baird

Snowflake (NYSE:SNOW) had its target price lowered by Robert W. Baird from $210.00 to $200.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

SNOW has been the subject of several other research reports. Piper Sandler restated an overweight rating and issued a $240.00 price objective on shares of Snowflake in a report on Thursday. Barclays raised their price objective on Snowflake from $188.00 to $191.00 and gave the company an equal weight rating in a report on Thursday. Monness Crespi & Hardt upgraded Snowflake from a sell rating to a neutral rating in a report on Monday, March 18th. StockNews.com upgraded Snowflake from a sell rating to a hold rating in a report on Thursday, May 16th. Finally, UBS Group raised their price objective on Snowflake from $185.00 to $190.00 and gave the company a neutral rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of Moderate Buy and a consensus price target of $200.64.

Snowflake Trading Up 1.0 %

SNOW stock opened at $156.16 on Thursday. The stock has a 50-day moving average price of $157.03 and a two-hundred day moving average price of $180.46. The stock has a market cap of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90. Snowflake has a 1 year low of $138.40 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. On average, analysts forecast that Snowflake will post -1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at $5,000,037.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Snowflake news, CEO Frank Slootman sold 19,764 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.66, for a total transaction of $3,096,228.24. Following the completion of the transaction, the chief executive officer now directly owns 233,297 shares in the company, valued at $36,548,308.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 62,380 shares of company stock worth $9,803,625. Corporate insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

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

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.