Snowflake (NYSE:SNOW) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Snowflake (NYSE:SNOW) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $195.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on SNOW. Needham & Company LLC reaffirmed a buy rating and set a $210.00 price target on shares of Snowflake in a research note on Monday, July 8th. Wedbush restated a neutral rating and set a $210.00 target price on shares of Snowflake in a research report on Wednesday, June 5th. Canaccord Genuity Group reduced their price target on shares of Snowflake from $230.00 to $215.00 and set a buy rating for the company in a research report on Friday, May 24th. Oppenheimer restated an outperform rating and issued a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Finally, KeyCorp lifted their price objective on Snowflake from $185.00 to $200.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $178.69.

Snowflake Stock Performance

Shares of SNOW stock opened at $115.21 on Monday. Snowflake has a 1 year low of $107.93 and a 1 year high of $237.72. The firm has a market cap of $38.57 billion, a price-to-earnings ratio of -41.14 and a beta of 0.85. The stock’s 50-day moving average is $129.96 and its two-hundred day moving average is $155.31.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the firm posted ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, research analysts predict that Snowflake will post -2.31 EPS for the current year.

Insider Activity

In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the transaction, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the sale, the executive vice president now directly owns 494,942 shares in the company, valued at $60,922,410.78. The disclosure for this sale can be found here. Insiders have sold 527,678 shares of company stock worth $65,491,235 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Accent Capital Management LLC acquired a new position in Snowflake in the fourth quarter worth about $25,000. LRI Investments LLC grew its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in shares of Snowflake during the 1st quarter valued at approximately $31,000. Finally, Hartford Financial Management Inc. bought a new position in Snowflake during the first quarter worth $32,000. Institutional investors 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.