Robert W. Baird Trims Snowflake (NYSE:SNOW) Target Price to $165.00

Snowflake (NYSE:SNOW) had its target price decreased by Robert W. Baird from $200.00 to $165.00 in a research report report published on Tuesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on SNOW. Mizuho lowered their price target on Snowflake from $205.00 to $180.00 and set a buy rating for the company in a research report on Wednesday, June 5th. The Goldman Sachs Group restated a buy rating and issued a $220.00 price target on shares of Snowflake in a research report on Monday, July 1st. Bank of America lowered their price target on Snowflake from $200.00 to $160.00 and set a neutral rating for the company in a research report on Friday, August 16th. Rosenblatt Securities restated a buy rating and issued a $195.00 price target on shares of Snowflake in a research report on Monday, August 19th. Finally, Scotiabank lowered their price target on Snowflake from $207.00 to $195.00 and set a sector outperform rating for the company in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of Moderate Buy and a consensus target price of $176.03.

Snowflake Stock Performance

SNOW stock opened at $115.84 on Tuesday. The firm has a fifty day moving average price of $129.74 and a 200 day moving average price of $154.61. Snowflake has a fifty-two week low of $107.93 and a fifty-two week high of $237.72. The firm has a market cap of $38.78 billion, a PE ratio of -41.37 and a beta of 0.85.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the firm posted ($0.52) earnings per share. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities analysts predict that Snowflake will post -2.31 EPS for the current year.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the transaction, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 527,678 shares of company stock worth $65,491,235. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased its holdings in Snowflake by 8.0% in the 2nd quarter. Cetera Investment Advisers now owns 68,800 shares of the company’s stock worth $9,294,000 after buying an additional 5,112 shares during the period. EP Wealth Advisors LLC purchased a new stake in Snowflake in the 2nd quarter worth approximately $201,000. Quarry LP boosted its position in Snowflake by 608.2% in the 2nd quarter. Quarry LP now owns 949 shares of the company’s stock worth $128,000 after purchasing an additional 815 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Snowflake by 46.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 5,393 shares of the company’s stock worth $729,000 after purchasing an additional 1,716 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Snowflake by 42.5% in the 2nd quarter. NewEdge Advisors LLC now owns 13,800 shares of the company’s stock worth $1,864,000 after purchasing an additional 4,116 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Company Profile

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.