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

Snowflake (NYSE:SNOW) had its price target hoisted by investment analysts at Rosenblatt Securities from $185.00 to $195.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 19.42% from the company’s current price.

A number of other analysts have also commented on the company. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. HSBC restated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Mizuho restated a “buy” rating and issued a $205.00 target price (down previously from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Piper Sandler reiterated an “overweight” rating and issued a $250.00 price objective on shares of Snowflake in a research note on Tuesday, February 27th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.26.

Snowflake Price Performance

Shares of SNOW opened at $163.29 on Thursday. The stock has a 50-day moving average of $157.13 and a 200-day moving average of $180.26. The company has a market cap of $54.57 billion, a PE ratio of -64.04 and a beta of 0.90. Snowflake has a one year low of $138.40 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Analysts expect that Snowflake will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Mark D. Mclaughlin bought 3,030 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $165.45 per share, for a total transaction of $501,313.50. Following the completion of the acquisition, the director now owns 11,687 shares in the company, valued at approximately $1,933,614.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The stock was bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold a total of 62,380 shares of company stock worth $9,803,625 over the last three months. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Snowflake during the first quarter valued at approximately $29,000. FinTrust Capital Advisors LLC increased its position in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Snowflake during the first quarter valued at approximately $31,000. Finally, Provence Wealth Management Group purchased a new stake in Snowflake in the third quarter worth approximately $30,000. 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.