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

Snowflake (NYSE:SNOW) had its price target hoisted by Jefferies Financial Group from $145.00 to $180.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 6.95% from the stock’s current price.

A number of other analysts have also commented on the company. TD Cowen decreased their price objective on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Needham & Company LLC increased their price target on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp lifted their price objective on shares of Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a report on Tuesday. Finally, JMP Securities cut their price target on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. One investment 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’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.15.

Snowflake Stock Up 30.4 %

NYSE SNOW opened at $168.31 on Thursday. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The business has a 50 day moving average price of $117.82 and a 200-day moving average price of $127.89. The company has a market cap of $56.42 billion, a price-to-earnings ratio of -52.61 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the prior year, the company posted ($0.52) earnings per share. The business’s revenue was up 28.9% on a year-over-year basis. On average, equities research analysts anticipate that Snowflake will post -2.41 earnings per share for the current year.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at $86,610,600. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,538 shares of company stock valued at $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

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

About Snowflake

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.