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

Snowflake (NYSE:SNOW) had its target price increased by Jefferies Financial Group from $145.00 to $180.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company upped their target price on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. JMP Securities lowered their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Stock Performance

Shares of SNOW opened at $167.44 on Thursday. Snowflake has a one year low of $107.13 and a one year high of $237.72. The stock’s fifty day moving average is $120.06 and its 200-day moving average is $128.00. The firm has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly 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 company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 33.02% and a negative return on equity of 22.01%. Snowflake’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. Analysts forecast that Snowflake will post -2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the 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 transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 over the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. LRI Investments LLC grew its position in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Groupama Asset Managment bought a new stake in Snowflake during the 3rd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in Snowflake in the 3rd quarter worth approximately $30,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Snowflake during the third quarter worth approximately $34,000. Institutional investors 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.