Snowflake’s (SNOW) “Buy” Rating Reaffirmed at Rosenblatt Securities

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $205.00 target price on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 12.14% from the company’s current price.

A number of other brokerages have also recently issued reports on SNOW. Loop Capital boosted their target price on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Thursday, February 20th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Tuesday, February 18th. Citigroup lifted their target price on shares of Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Finally, Barclays upped their price target on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $182.81 on Monday. The business has a 50-day moving average of $156.90 and a two-hundred day moving average of $162.25. The firm has a market capitalization of $60.35 billion, a PE ratio of -53.93 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $168.01, for a total transaction of $67,708.03. Following the completion of the transaction, the director now owns 25,972 shares in the company, valued at approximately $4,363,555.72. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 356,963 shares of company stock worth $58,204,058. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. Merit Financial Group LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $493,000. HB Wealth Management LLC acquired a new position in Snowflake during the 4th quarter valued at approximately $397,000. Diversify Advisory Services LLC grew its stake in Snowflake by 7.4% during the 4th quarter. Diversify Advisory Services LLC now owns 100,284 shares of the company’s stock worth $16,292,000 after buying an additional 6,922 shares during the last quarter. Trueblood Wealth Management LLC bought a new position in Snowflake during the 4th quarter worth $276,000. Finally, Harbor Investment Advisory LLC increased its position in Snowflake by 85.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 435 shares of the company’s stock worth $67,000 after buying an additional 200 shares during the period. Institutional investors own 65.10% of the company’s stock.

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.