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

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $180.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential upside of 40.12% from the stock’s previous close.

Several other research analysts have also commented on the company. Loop Capital lowered their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and raised their target price for the company from $119.00 to $121.00 in a report on Friday, August 23rd. KeyCorp cut their price target on shares of Snowflake from $168.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Wedbush upgraded shares of Snowflake to a “hold” rating in a report on Thursday, October 17th. Finally, Bank of America reduced their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $171.59.

Snowflake Stock Up 0.8 %

NYSE:SNOW traded up $1.03 on Tuesday, hitting $128.46. The stock had a trading volume of 2,419,841 shares, compared to its average volume of 6,449,763. The company has a fifty day moving average price of $117.08 and a two-hundred day moving average price of $128.09. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a market cap of $43.06 billion, a price-to-earnings ratio of -41.98 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results 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. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period last year, the business earned ($0.52) earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, analysts anticipate that Snowflake will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 287 shares of the firm’s 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 $5,932,582.50. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Snowflake in the first quarter valued at $29,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake during the second quarter worth about $27,000. Groupama Asset Managment purchased a new stake in shares of Snowflake in the third quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the third quarter valued at about $30,000. Finally, Global Financial Private Client LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $44,000. Institutional investors and hedge funds 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.