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

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $180.00 target price on the stock. Rosenblatt Securities' price objective would suggest a potential upside of 38.19% from the stock's current price.

A number of other analysts have also commented on the stock. Canaccord Genuity Group cut their price objective on shares of Snowflake from $215.00 to $190.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley reiterated an "equal weight" rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Monness Crespi & Hardt upgraded Snowflake from a "neutral" rating to a "buy" rating and set a $140.00 price objective on the stock in a research report on Wednesday, November 6th. Evercore ISI reduced their price target on Snowflake from $225.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, August 19th. Finally, Needham & Company LLC dropped their target price on shares of Snowflake from $210.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.59.

Snowflake Trading Up 2.2 %

NYSE:SNOW traded up $2.83 during trading hours on Tuesday, hitting $130.26. 4,820,654 shares of the company traded hands, compared to its average volume of 6,460,267. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a market capitalization of $43.66 billion, a price-to-earnings ratio of -42.57 and a beta of 0.83. The firm has a 50-day moving average of $117.48 and a 200 day moving average of $127.89.

Snowflake (NYSE:SNOW - Get Free Report) last announced its 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 return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the company posted ($0.52) earnings per share. The firm's quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts predict that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company's stock, valued at $23,998,330.16. This represents a 0.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the stock. LRI Investments LLC boosted its stake in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 112 shares during the period. Groupama Asset Managment acquired a new position in Snowflake during the third quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake during the second quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC purchased a new position in Snowflake during the 3rd quarter valued at about $34,000. 65.10% of the stock is owned by institutional investors.

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.