Loop Capital Trims Snowflake (NYSE:SNOW) Target Price to $225.00

Snowflake (NYSE:SNOW) had its target price cut by Loop Capital from $235.00 to $225.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on SNOW. Mizuho reaffirmed a buy rating and issued a $205.00 price target (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. StockNews.com raised Snowflake from a sell rating to a hold rating in a research report on Thursday, May 16th. UBS Group lifted their target price on Snowflake from $185.00 to $190.00 and gave the company a neutral rating in a research note on Thursday. Oppenheimer reissued an outperform rating and set a $220.00 price target on shares of Snowflake in a research report on Thursday. Finally, BNP Paribas upgraded shares of Snowflake from a neutral rating to an outperform rating and set a $200.00 price objective 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 issued a buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of Moderate Buy and an average price target of $200.64.

Snowflake Stock Up 1.0 %

SNOW 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 has a market capitalization of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. The stock’s fifty day moving average is $157.03 and its two-hundred day moving average is $180.46.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Equities analysts anticipate that Snowflake will post -1.83 earnings per share for the current year.

Insider Activity at Snowflake

In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price 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 owns 31,542 shares in the company, valued at approximately $5,000,037.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the transaction, the insider now directly owns 55,216 shares in the company, valued at $8,627,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sridhar Ramaswamy bought 31,542 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following 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 quarter, insiders have sold 62,380 shares of company stock worth $9,803,625. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Accent Capital Management LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in shares of Snowflake during the first quarter worth approximately $29,000. Provence Wealth Management Group purchased a new stake in shares of Snowflake during the third quarter worth approximately $30,000. Global Wealth Management Investment Advisory Inc. raised its stake in 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 purchasing an additional 97 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in Snowflake in the 1st 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.