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

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

Several other research firms have also recently issued reports on SNOW. Barclays decreased their target price on shares of Snowflake from $198.00 to $188.00 and set an equal weight rating for the company in a research note on Friday, March 1st. JMP Securities reiterated a market outperform rating and issued a $235.00 target price on shares of Snowflake in a research note on Friday, May 17th. StockNews.com upgraded shares of Snowflake from a sell rating to a hold rating in a research note on Thursday, May 16th. Morgan Stanley reissued an equal weight rating and issued a $175.00 price target (down previously from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Piper Sandler reissued an overweight rating and issued a $250.00 price target on shares of Snowflake in a report on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Stock Up 1.0 %

Shares of Snowflake stock opened at $156.16 on Thursday. The firm’s 50 day moving average price is $157.03 and its 200-day moving average price is $180.46. Snowflake has a 52-week low of $138.40 and a 52-week high of $237.72. The company has a market cap of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share 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 net margin of 30.80% and a negative return on equity of 15.54%. As a group, equities research analysts forecast that Snowflake will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the transaction, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snowflake news, Director Mark D. Mclaughlin acquired 3,030 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $165.45 per share, with a total value of $501,313.50. Following the purchase, the director now owns 11,687 shares of the company’s stock, valued at approximately $1,933,614.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,380 shares of company stock worth $9,803,625. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently modified their holdings of the stock. Cigna Investments Inc. New grew its holdings in shares of Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after acquiring an additional 51 shares in the last quarter. E&G Advisors LP grew its holdings in shares of Snowflake by 3.0% in the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after acquiring an additional 51 shares in the last quarter. Commerce Bank grew its holdings in shares of Snowflake by 0.8% in the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after acquiring an additional 51 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of Snowflake by 18.1% in the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after acquiring an additional 53 shares in 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.