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

Snowflake (NYSE:SNOW) had its price objective boosted by Rosenblatt Securities from $186.00 to $205.00 in a research note released on Tuesday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other analysts also recently weighed in on the company. Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC increased their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Evercore ISI lifted their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. TD Cowen increased their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Oppenheimer raised their target price on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.19.

Snowflake Stock Down 4.0 %

Shares of SNOW opened at $164.14 on Tuesday. The firm has a 50 day simple moving average of $172.71 and a two-hundred day simple moving average of $144.79. The company has a market cap of $54.18 billion, a P/E ratio of -48.42 and a beta of 1.07. Snowflake has a one year low of $107.13 and a one year high of $235.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares in the company, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the transaction, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,810 shares of company stock valued at $63,340,544 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC increased its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. State Street Corp grew its stake in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares during the period. Norges Bank purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $988,950,000. FMR LLC lifted its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. Finally, GQG Partners LLC purchased a new stake in Snowflake in the fourth quarter worth approximately $750,572,000. 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.