Snowflake (NYSE:SNOW) PT Lowered to $185.00

Snowflake (NYSE:SNOW – Get Rating) had its price target decreased by Canaccord Genuity Group from $210.00 to $185.00 in a research note released on Thursday morning, The Fly reports.

SNOW has been the subject of several other reports. Stifel Nicolaus reduced their target price on Snowflake from $240.00 to $120.00 in a research report on Thursday. Loop Capital reduced their price objective on shares of Snowflake from $370.00 to $180.00 and set a buy rating for the company in a report on Thursday. UBS Group lowered their target price on shares of Snowflake from $260.00 to $180.00 and set a buy rating on the stock in a research note on Monday, May 23rd. Rosenblatt Securities raised shares of Snowflake from a neutral rating to a buy rating and dropped their price target for the stock from $325.00 to $255.00 in a research report on Tuesday, May 24th. Finally, Cowen decreased their price objective on Snowflake from $390.00 to $280.00 and set an outperform rating on the stock in a report on Monday, May 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $225.86.

Shares of SNOW opened at $129.91 on Thursday. Snowflake has a 52 week low of $112.10 and a 52 week high of $405.00. The firm has a market capitalization of $40.87 billion, a P/E ratio of -56.98 and a beta of 1.80. The company has a 50-day simple moving average of $183.80 and a 200-day simple moving average of $260.70.

Snowflake (NYSE:SNOW – Get Rating) last posted its quarterly earnings results on Wednesday, May 25th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.47. Snowflake had a negative return on equity of 13.45% and a negative net margin of 55.76%. The firm had revenue of $422.37 million during the quarter, compared to analysts’ expectations of $413.01 million. During the same quarter in the prior year, the firm posted ($0.69) EPS. The company’s revenue for the quarter was up 84.5% on a year-over-year basis. Equities research analysts predict that Snowflake will post -1.6 earnings per share for the current year.

In related news, Director Michael L. Speiser sold 750,000 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $222.18, for a total value of $166,635,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its holdings in Snowflake by 3.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 50,185 shares of the company’s stock valued at $16,998,000 after purchasing an additional 1,658 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Snowflake by 1,317.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,049,545 shares of the company’s stock worth $619,844,000 after buying an additional 1,904,908 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Snowflake by 17.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,035 shares of the company’s stock worth $2,722,000 after buying an additional 1,175 shares during the period. Centaurus Financial Inc. increased its stake in shares of Snowflake by 46.2% in the 4th quarter. Centaurus Financial Inc. now owns 4,413 shares of the company’s stock valued at $1,495,000 after acquiring an additional 1,394 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Snowflake by 16.6% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 50,962 shares of the company’s stock valued at $16,920,000 after acquiring an additional 7,253 shares during the period. 76.67% of the stock is owned by institutional investors and hedge funds.

About Snowflake (Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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