Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Snowflake (NYSE:SNOW) had its price objective lifted by investment analysts at Rosenblatt Securities from $186.00 to $205.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 23.35% from the stock’s previous close.

Several other analysts have also recently weighed in on SNOW. KeyCorp raised their target price on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Friday, January 10th. UBS Group raised their target price on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Cantor Fitzgerald assumed coverage on shares of Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned 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 data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $196.19.

Snowflake Stock Up 1.2 %

Shares of NYSE:SNOW opened at $166.20 on Tuesday. The firm’s 50 day moving average price is $172.79 and its 200 day moving average price is $144.94. The stock has a market cap of $54.86 billion, a price-to-earnings ratio of -49.03 and a beta of 1.07. Snowflake has a fifty-two week low of $107.13 and a fifty-two week 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.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the transaction, the executive now directly owns 323,731 shares of the company’s stock, valued at $56,348,617.86. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 Trading of Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter valued at about $31,000. Garde Capital Inc. grew its holdings in Snowflake by 3.9% in the 4th quarter. Garde Capital Inc. now owns 6,288 shares of the company’s stock valued at $971,000 after buying an additional 238 shares during the period. American Trust purchased a new stake in shares of Snowflake during the 4th quarter worth about $330,000. Toronto Dominion Bank grew its holdings in shares of Snowflake by 9.2% during the 4th quarter. Toronto Dominion Bank now owns 40,655 shares of the company’s stock worth $6,278,000 after purchasing an additional 3,429 shares during the period. Finally, Cache Advisors LLC purchased a new stake in shares of Snowflake during the 4th quarter worth about $3,716,000. Hedge funds and other 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.