Snowflake (NYSE:SNOW) Given New $180.00 Price Target at Jefferies Financial Group

Snowflake (NYSE:SNOW) had its price target lifted by Jefferies Financial Group from $145.00 to $180.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 7.48% from the company’s previous close.

Other analysts have also issued reports about the company. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus reduced their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Barclays dropped their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Monness Crespi & Hardt increased their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Performance

Snowflake stock opened at $167.48 on Thursday. The firm has a market capitalization of $56.14 billion, a PE ratio of -54.73 and a beta of 0.83. Snowflake has a one year low of $107.13 and a one year high of $237.72. The stock’s 50 day moving average price is $120.06 and its 200 day moving average price is $128.22.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.52) earnings per share. On average, analysts forecast that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 in the last three months. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently modified their holdings of SNOW. Covestor Ltd boosted its stake in Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares in the last quarter. Modus Advisors LLC lifted its holdings in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the last quarter. Catalyst Private Wealth LLC boosted its position in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares in the last quarter. Iron Gate Global Advisors LLC grew its stake in shares of Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock worth $1,878,000 after purchasing an additional 105 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.