Rosenblatt Securities Boosts Snowflake (NYSE:SNOW) Price Target to $275.00

Snowflake (NYSE:SNOW) had its price objective increased by Rosenblatt Securities from $250.00 to $275.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 9.57% from the company’s current price.

A number of other brokerages have also weighed in on SNOW. Royal Bank Of Canada raised their price objective on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. KeyCorp raised their price target on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. BTIG Research upped their price objective on Snowflake from $276.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Jefferies Financial Group set a $300.00 target price on Snowflake in a research report on Monday, November 24th. Finally, Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.31.

Snowflake Stock Performance

SNOW opened at $250.97 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $85.03 billion, a price-to-earnings ratio of -60.47 and a beta of 1.23. The company has a fifty day moving average of $248.96 and a 200 day moving average of $224.55. Snowflake has a fifty-two week low of $120.10 and a fifty-two week high of $280.67.

Insider Buying and Selling

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $257.29, for a total transaction of $103,687.87. Following the completion of the sale, the director directly owned 24,927 shares in the company, valued at approximately $6,413,467.83. This represents a 1.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 221,305 shares of company stock worth $52,925,799 over the last three months. 6.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

Several institutional investors have recently added to or reduced their stakes in SNOW. Vanguard Group Inc. raised its holdings in shares of Snowflake by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock valued at $6,461,465,000 after purchasing an additional 857,832 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Snowflake during the second quarter valued at approximately $3,900,134,000. Jennison Associates LLC increased its holdings in Snowflake by 13.5% during the third quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock valued at $2,048,871,000 after buying an additional 1,083,222 shares during the period. State Street Corp raised its stake in Snowflake by 1.4% in the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after buying an additional 94,293 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Snowflake by 15.2% during the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after buying an additional 652,485 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.