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

Rosenblatt Securities reiterated their buy rating on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $180.00 price objective on the stock.

SNOW has been the subject of a number of other reports. Needham & Company LLC decreased their price objective on Snowflake from $210.00 to $160.00 and set a buy rating for the company in a report on Thursday, August 22nd. Jefferies Financial Group decreased their price target on Snowflake from $160.00 to $145.00 and set a buy rating for the company in a report on Thursday, August 22nd. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a buy rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group reiterated a buy rating and issued a $220.00 target price on shares of Snowflake in a research note on Monday, July 1st. Finally, Loop Capital dropped their price target on shares of Snowflake from $225.00 to $185.00 and set a buy rating on the stock in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake has a consensus rating of Moderate Buy and an average target price of $174.74.

Snowflake Stock Up 3.8 %

Shares of SNOW opened at $114.72 on Wednesday. The business’s fifty day moving average is $117.12 and its 200 day moving average is $135.94. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The stock has a market cap of $38.41 billion, a P/E ratio of -40.97 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.52) earnings per share. On average, analysts expect that Snowflake will post -2.41 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the transaction, the director now owns 208,735 shares of the company’s stock, valued at $23,877,196.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,538 shares of company stock worth $3,449,994. 7.80% of the stock is owned by company insiders.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently modified their holdings of the business. Accent Capital Management LLC bought a new position in shares of Snowflake in the fourth quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in shares of Snowflake during the 1st quarter valued at $29,000. Riverview Trust Co bought a new stake in shares of Snowflake during the 1st quarter worth $31,000. Future Financial Wealth Managment LLC purchased a new position in Snowflake in the first quarter worth $32,000. Finally, Wellington Shields Capital Management LLC bought a new position in Snowflake in the second quarter valued at $27,000. Hedge funds and other 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.