Snowflake (NYSE:SNOW) Price Target Raised to $172.00 at Barclays

Snowflake (NYSE:SNOW) had its target price lifted by analysts at Barclays from $142.00 to $172.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 1.70% from the company’s previous close.

A number of other research analysts have also weighed in on SNOW. Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating on the stock. KeyCorp increased their target price on Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and upped their target price for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Stifel Nicolaus lowered their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.74.

Snowflake Trading Up 31.0 %

Shares of NYSE:SNOW traded up $40.00 on Thursday, reaching $169.12. The company had a trading volume of 17,495,438 shares, compared to its average volume of 6,549,656. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market capitalization of $56.69 billion, a PE ratio of -54.39 and a beta of 0.83. The firm’s 50 day simple moving average is $117.82 and its 200-day simple moving average is $127.89.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the company earned ($0.52) earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts predict that Snowflake will post -2.41 earnings per share for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 6,251 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $23,877,196.65. This trade represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,538 shares of company stock valued at $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of Snowflake during the 1st quarter worth about $29,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the second quarter worth about $27,000. Groupama Asset Managment bought a new position in Snowflake during the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at approximately $30,000. Finally, Global Financial Private Client LLC bought a new stake in shares of Snowflake in the 1st quarter worth about $44,000. 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.