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

Rosenblatt Securities restated their buy rating on shares of Snowflake (NYSE:SNOW) in a report released on Monday morning, Benzinga reports. They currently have a $195.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Robert W. Baird decreased their price objective on Snowflake from $210.00 to $200.00 and set an outperform rating for the company in a report on Thursday, May 23rd. Loop Capital dropped their price objective on shares of Snowflake from $235.00 to $225.00 and set a buy rating on the stock in a research note on Thursday, May 23rd. UBS Group increased their target price on shares of Snowflake from $185.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday, May 23rd. Scotiabank dropped their price target on Snowflake from $207.00 to $195.00 and set a sector outperform rating on the stock in a research report on Thursday, May 23rd. Finally, BNP Paribas raised Snowflake from a neutral rating to an outperform rating and set a $200.00 price objective for the company in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Snowflake currently has an average rating of Moderate Buy and an average target price of $187.03.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $135.01 on Monday. Snowflake has a 12 month low of $107.93 and a 12 month high of $237.72. The firm has a market capitalization of $45.20 billion, a P/E ratio of -48.22 and a beta of 0.85. The company’s fifty day moving average price is $130.18 and its 200 day moving average price is $155.59.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. On average, sell-side analysts anticipate that Snowflake will post -2.31 EPS for the current year.

Insider Activity

In related news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snowflake news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Emily Ho sold 6,500 shares of Snowflake stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the sale, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at $5,712,995.36. The disclosure for this sale can be found here. Insiders have sold 534,178 shares of company stock worth $66,520,575 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC acquired a new stake in Snowflake in the 4th quarter worth about $25,000. LRI Investments LLC lifted its holdings in shares of Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the second quarter worth approximately $27,000. Riverview Trust Co purchased a new stake in Snowflake in the first quarter valued at approximately $31,000. Finally, Hartford Financial Management Inc. purchased a new stake in Snowflake in the first quarter valued at approximately $32,000. Institutional investors and hedge funds 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.