Snowflake (NYSE:SNOW) Price Target Raised to $275.00 at Rosenblatt Securities

Snowflake (NYSE:SNOW) had its price target boosted by Rosenblatt Securities from $250.00 to $275.00 in a research report report published on Monday, MarketBeat reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Robert W. Baird lifted their price target on Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Macquarie lifted their target price on shares of Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Wedbush raised their price target on shares of Snowflake from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $270.31.

Snowflake Stock Performance

NYSE SNOW opened at $252.20 on Monday. The firm has a market capitalization of $85.45 billion, a P/E ratio of -60.77 and a beta of 1.09. The stock has a 50-day simple moving average of $249.42 and a two-hundred day simple moving average of $225.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake has a fifty-two week low of $120.10 and a fifty-two week high of $280.67.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the completion of the sale, the executive vice president directly owned 522,450 shares in the company, valued at approximately $145,100,038.50. The trade was a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $257.29, for a total value of $103,687.87. Following the transaction, the director directly owned 24,927 shares of the company’s stock, valued at $6,413,467.83. The trade was a 1.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 211,305 shares of company stock worth $50,590,799. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snowflake in the second quarter worth about $3,900,134,000. Norges Bank acquired a new stake in Snowflake in the 2nd quarter valued at about $944,895,000. Nuveen LLC purchased a new position in Snowflake in the 1st quarter worth approximately $555,847,000. Winslow Capital Management LLC purchased a new position in Snowflake in the 2nd quarter worth approximately $725,667,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Snowflake by 346.2% during the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after purchasing an additional 2,460,769 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Company Profile

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.