Snowflake’s (SNOW) “Neutral” Rating Reiterated at Wedbush

Snowflake (NYSE:SNOWGet Free Report)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They currently have a $210.00 target price on the stock. Wedbush’s price target points to a potential upside of 59.05% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Oppenheimer reiterated an “outperform” rating and set a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Truist Financial lowered their price target on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Scotiabank lowered their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 23rd. KeyCorp increased their price target on Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Rosenblatt Securities raised their price objective on shares of Snowflake from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.92.

Get Our Latest Research Report on SNOW

Snowflake Stock Down 1.7 %

Shares of SNOW stock opened at $132.03 on Wednesday. Snowflake has a 12 month low of $128.41 and a 12 month high of $237.72. The business’s 50 day moving average is $153.84 and its two-hundred day moving average is $178.97. The company has a market cap of $44.12 billion, a PE ratio of -47.15 and a beta of 0.85.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the transaction, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares in the company, valued at approximately $4,457,133.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sridhar Ramaswamy purchased 31,542 shares of Snowflake stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The disclosure for this purchase can be found here. Over the last three months, insiders sold 83,880 shares of company stock valued at $12,890,065. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC acquired a new position in Snowflake during the 4th quarter worth about $25,000. LRI Investments LLC acquired a new position in Snowflake during the 1st quarter valued at about $29,000. Provence Wealth Management Group acquired a new position in Snowflake during the 3rd quarter valued at about $30,000. Riverview Trust Co acquired a new position in Snowflake during the 1st quarter valued at about $31,000. Finally, Hartford Financial Management Inc. acquired a new position in Snowflake during the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

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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.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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