Snowflake (NYSE:SNOW) Price Target Raised to $205.00 at Rosenblatt Securities

Snowflake (NYSE:SNOW) had its target price boosted by stock analysts at Rosenblatt Securities from $186.00 to $205.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 22.29% from the company’s current price.

SNOW has been the subject of several other reports. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. TD Cowen lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Citigroup increased their price target on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. KeyCorp lifted their price objective on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Bank of America increased their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $196.19.

Snowflake Stock Down 5.8 %

SNOW stock opened at $167.63 on Tuesday. Snowflake has a twelve month low of $107.13 and a twelve month high of $235.66. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $55.33 billion, a PE ratio of -49.62 and a beta of 1.07. The business’s 50-day simple moving average is $172.85 and its 200 day simple moving average is $144.51.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the sale, the chief accounting officer now directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,810 shares of company stock valued at $63,340,544 in the last 90 days. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently added to or reduced their stakes in the business. Groupama Asset Managment bought a new stake in shares of Snowflake during the 3rd quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter worth approximately $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake in the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake during the fourth quarter worth approximately $31,000. Finally, Quadrant Capital Group LLC lifted its holdings in Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds 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.