Over the last couple of months, Snowflake (SNOW) gapped from about $230 to a recent low of $130. All thanks to a weak forecast and new CEO transition.
However, with the negativity now priced into the stock, the company’s ex-CEO just bought $10 million worth of SNOW shares on June 7. The current CEO of SNOW also bought $5 million worth of stock in late March as it traded closer to $160.
Helping, the company is still receiving positive analyst rates.
Needham maintained its Buy rating on the stock with a price target of $210. Jefferies also maintained its Buy rating and set a price target of $210 on the stock. Loop Capital also kept its buy rating on the stock with a price target of $225.