Snowflake (NYSE:SNOW) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Snowflake (NYSE:SNOW) in a report published on Wednesday morning, Benzinga reports. They currently have a $180.00 price objective on the stock.

SNOW has been the topic of a number of other research reports. Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a buy rating on the stock in a report on Thursday, August 22nd. HSBC raised shares of Snowflake from a reduce rating to a hold rating and upped their price objective for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Needham & Company LLC reduced their price target on shares of Snowflake from $210.00 to $160.00 and set a buy rating for the company in a research note on Thursday, August 22nd. Wedbush lowered their price objective on shares of Snowflake from $210.00 to $140.00 and set a neutral rating on the stock in a research note on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an overweight rating and set a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Two research 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 company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $174.74.

Snowflake Stock Up 3.8 %

Shares of SNOW stock opened at $114.69 on Wednesday. The company has a market cap of $38.40 billion, a P/E ratio of -40.96 and a beta of 0.83. The business has a 50 day moving average of $117.12 and a two-hundred day moving average of $136.09. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

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

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their position. 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 insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC grew its holdings in shares of Snowflake by 0.5% in the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock worth $2,179,000 after purchasing an additional 70 shares during the last quarter. Covestor Ltd lifted its position in Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after buying an additional 70 shares in the last quarter. IAM Advisory LLC lifted its position in shares of Snowflake by 2.0% during the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after purchasing an additional 74 shares in the last quarter. Joseph P. Lucia & Associates LLC increased its position in Snowflake by 2.6% in the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after purchasing an additional 75 shares during the period. Finally, Peterson Wealth Management grew its holdings in Snowflake by 1.5% during the 4th quarter. Peterson Wealth Management now owns 5,576 shares of the company’s stock worth $1,110,000 after acquiring an additional 81 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

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.