Jefferies Financial Group Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price target hoisted by stock analysts at Jefferies Financial Group from $145.00 to $180.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 7.48% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Robert W. Baird dropped their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. UBS Group dropped their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Wedbush upgraded Snowflake to a “hold” rating in a research note on Thursday, October 17th. Barclays cut their price objective on Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Trading Down 2.3 %

Shares of SNOW stock opened at $167.48 on Thursday. The company has a market capitalization of $56.14 billion, a P/E ratio of -54.73 and a beta of 0.83. The business’s 50 day moving average is $120.06 and its two-hundred day moving average is $128.22. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72.

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 analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm posted ($0.52) EPS. As a group, equities analysts predict that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on 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 $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the business’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 sale, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last quarter. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in Snowflake during the first quarter worth about $29,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake during the 2nd quarter worth approximately $27,000. Groupama Asset Managment purchased a new position in Snowflake in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in Snowflake during the third quarter valued at approximately $30,000. Finally, Global Financial Private Client LLC purchased a new stake in Snowflake during the first quarter worth approximately $44,000. 65.10% of the stock is owned by hedge funds and other 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.