Rosenblatt Securities Raises Snowflake (NYSE:SNOW) Price Target to $195.00

Snowflake (NYSE:SNOW) had its price objective increased by Rosenblatt Securities from $185.00 to $195.00 in a report released on Thursday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

SNOW has been the topic of several other reports. Bank of America dropped their price target on Snowflake from $212.00 to $200.00 and set a neutral rating on the stock in a research report on Wednesday, May 15th. Guggenheim raised Snowflake from a sell rating to a neutral rating in a report on Friday, March 15th. Morgan Stanley reissued an equal weight rating and set a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. BNP Paribas raised Snowflake from a neutral rating to an outperform rating and set a $200.00 price objective on the stock in a report on Thursday, May 2nd. Finally, UBS Group lifted their price objective on Snowflake from $185.00 to $225.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $200.64.

Snowflake Stock Performance

Shares of SNOW stock opened at $156.16 on Thursday. The stock’s 50 day simple moving average is $157.03 and its 200 day simple moving average is $180.46. The company has a market capitalization of $52.19 billion, a price-to-earnings ratio of -55.77 and a beta of 0.90. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million for 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%. On average, analysts forecast that Snowflake will post -1.83 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares in the company, valued at $124,504,006.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Sridhar Ramaswamy bought 31,542 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Insiders sold a total of 62,380 shares of company stock worth $9,803,625 over the last 90 days. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisors LLC increased its holdings in Snowflake by 76.5% in the first quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock valued at $4,659,000 after purchasing an additional 12,497 shares during the last quarter. Cetera Investment Advisers increased its holdings in Snowflake by 201.5% in the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after purchasing an additional 42,563 shares during the last quarter. Swedbank AB bought a new stake in Snowflake in the first quarter valued at about $258,957,000. Sanibel Captiva Trust Company Inc. bought a new stake in Snowflake in the first quarter valued at about $2,004,000. Finally, Arrow Financial Corp increased its holdings in Snowflake by 24.8% in the first quarter. Arrow Financial Corp now owns 7,604 shares of the company’s stock valued at $1,229,000 after purchasing an additional 1,511 shares during the last quarter. 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.