DA Davidson Has Lowered Expectations for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its target price reduced by analysts at DA Davidson from $225.00 to $200.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 38.07% from the company’s current price.

Several other equities analysts also recently commented on the company. Stifel Nicolaus upped their price objective on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Citigroup upped their price target on Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Wells Fargo & Company lifted their price objective on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Macquarie began coverage on shares of Snowflake in a report on Wednesday, April 2nd. They issued a “neutral” rating and a $160.00 price target on the stock. Finally, KeyCorp boosted their price target on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.51.

Snowflake Stock Performance

SNOW stock traded down $0.11 during trading on Monday, reaching $144.85. The stock had a trading volume of 1,537,268 shares, compared to its average volume of 6,432,181. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. The firm has a market cap of $47.81 billion, a PE ratio of -42.73 and a beta of 1.13. The stock’s 50 day moving average is $163.16 and its two-hundred day moving average is $153.82.

Insider Activity

In related news, Director Frank Slootman sold 127,247 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,589 shares of company stock worth $82,405,796. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new position in Snowflake in the 4th quarter worth $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake in the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the fourth quarter worth about $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.