Jefferies Financial Group Issues Pessimistic Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price target reduced by investment analysts at Jefferies Financial Group from $220.00 to $190.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 26.16% from the stock’s current price.

A number of other research firms have also commented on SNOW. Bank of America boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Canaccord Genuity Group boosted their target price on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Mizuho raised their price target on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research note on Tuesday, February 18th. Finally, Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.83.

Snowflake Stock Performance

Snowflake stock opened at $150.60 on Monday. Snowflake has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a fifty day moving average price of $171.99 and a two-hundred day moving average price of $151.58. The firm has a market capitalization of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 503,968 shares of company stock worth $84,363,550 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Asset Dedication LLC boosted its position in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after acquiring an additional 59 shares during the last quarter. Quarry LP lifted its position in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after purchasing an additional 59 shares in the last quarter. Breakwater Capital Group boosted its holdings in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after purchasing an additional 62 shares during the last quarter. Gabelli Funds LLC grew its position in Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after purchasing an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 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.