Jefferies Financial Group Raises Snowflake (NYSE:SNOW) Price Target to $180.00

Snowflake (NYSE:SNOW) had its price target increased by equities researchers at 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 price objective suggests a potential upside of 6.95% from the stock’s previous close.

SNOW has been the subject of several other research reports. Bank of America dropped their price objective on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Barclays decreased their price objective on Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Robert W. Baird reduced their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $185.00 price target (up previously from $165.00) on shares of Snowflake 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-five have issued a buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $178.15.

Snowflake Stock Performance

Snowflake stock opened at $168.31 on Thursday. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a market cap of $56.42 billion, a P/E ratio of -52.61 and a beta of 0.83. The business’s fifty day moving average is $117.82 and its two-hundred day moving average is $127.89.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter last year, the company posted ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, equities research analysts predict that Snowflake will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the transaction, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 in the last quarter. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNOW. ProShare Advisors LLC raised its position in shares of Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after acquiring an additional 295 shares during the last quarter. Covestor Ltd lifted its stake in shares of Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Snowflake by 21.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock valued at $2,042,000 after purchasing an additional 2,191 shares during the period. UniSuper Management Pty Ltd grew its stake in Snowflake by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after purchasing an additional 2,000 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Snowflake by 372.1% in the first quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock worth $36,546,000 after purchasing an additional 178,253 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

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.