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

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They currently have a $205.00 target price on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 12.02% from the company’s previous close.

A number of other research firms have also recently weighed in on SNOW. Piper Sandler lowered their price objective on Snowflake from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC boosted their price target on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. KeyCorp lowered their price target on Snowflake from $220.00 to $192.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Mizuho boosted their price target on Snowflake from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Daiwa America raised Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $200.28.

Snowflake Stock Up 0.0%

SNOW stock opened at $183.01 on Monday. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $60.41 billion, a P/E ratio of -53.98 and a beta of 1.11. The business’s 50-day moving average price is $155.65 and its 200-day moving average price is $161.65.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Zurich Insurance Group Ltd FI bought a new position in shares of Snowflake during the 1st quarter worth $41,355,000. Meiji Yasuda Life Insurance Co grew its position in shares of Snowflake by 10.2% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 8,774 shares of the company’s stock worth $1,282,000 after buying an additional 809 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Snowflake by 7.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,361 shares of the company’s stock worth $930,000 after buying an additional 456 shares in the last quarter. Sciencast Management LP bought a new position in shares of Snowflake during the 1st quarter worth $2,702,000. Finally, Voleon Capital Management LP bought a new position in shares of Snowflake during the 1st quarter worth $3,351,000. 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.