JPMorgan Chase & Co. Raises Snowflake (NYSE:SNOW) Price Target to $185.00

Snowflake (NYSE:SNOWFree Report) had its price objective hoisted by JPMorgan Chase & Co. from $170.00 to $185.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also commented on SNOW. JMP Securities reiterated a market outperform rating and issued a $235.00 price target on shares of Snowflake in a research report on Friday, May 17th. Truist Financial dropped their price target on Snowflake from $250.00 to $210.00 and set a buy rating for the company in a research report on Thursday, February 29th. Redburn Atlantic reissued a sell rating and issued a $125.00 price target (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Evercore ISI decreased their price objective on Snowflake from $250.00 to $225.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. Finally, Citigroup cut their target price on shares of Snowflake from $290.00 to $240.00 and set a buy rating for the company in a research note on Monday, March 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $201.19.

View Our Latest Research Report on Snowflake

Snowflake Stock Down 5.4 %

Shares of SNOW stock opened at $154.58 on Thursday. Snowflake has a 1 year low of $138.40 and a 1 year high of $237.72. The stock has a fifty day moving average price of $157.04 and a 200 day moving average price of $180.08.

Snowflake (NYSE:SNOWGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. As a group, equities analysts forecast that Snowflake will post -1.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mark D. Mclaughlin bought 3,030 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $165.45 per share, with a total value of $501,313.50. Following the transaction, the director now owns 11,687 shares of the company’s stock, valued at $1,933,614.15. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Insiders have sold 62,380 shares of company stock worth $9,803,625 in the last quarter. 8.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SNOW. Norges Bank acquired a new stake in shares of Snowflake during the 4th quarter valued at approximately $838,455,000. Swedbank AB acquired a new stake in shares of Snowflake during the first quarter worth $258,957,000. Vanguard Group Inc. raised its holdings in shares of Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. FMR LLC boosted its holdings in shares of Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after buying an additional 1,496,235 shares during the period. Finally, Winslow Capital Management LLC bought a new stake in shares of Snowflake during the 3rd quarter valued at about $226,302,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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