Snowflake (NYSE:SNOW – Get Rating) had its target price lowered by equities researchers at Jefferies Financial Group from $230.00 to $150.00 in a note issued to investors on Monday, The Fly reports. Jefferies Financial Group’s price objective would indicate a potential upside of 6.01% from the company’s current price.
Several other brokerages have also issued reports on SNOW. Cowen lowered their target price on Snowflake from $390.00 to $280.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on Snowflake from $375.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 3rd. StockNews.com started coverage on Snowflake in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Sumitomo Mitsui Financial Group started coverage on Snowflake in a research report on Friday, April 1st. They issued a “neutral” rating and a $253.00 price target for the company. Finally, Barclays reduced their price target on Snowflake from $313.00 to $218.00 and set an “overweight” rating for the company in a research report on Friday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $283.79.
Shares of Snowflake stock opened at $141.49 on Monday. The business’s fifty day simple moving average is $191.10 and its 200 day simple moving average is $267.57. The firm has a market capitalization of $44.51 billion, a P/E ratio of -62.06 and a beta of 1.80. Snowflake has a 12 month low of $126.01 and a 12 month high of $405.00.
In other Snowflake news, Director Michael L. Speiser sold 750,000 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $222.18, for a total transaction of $166,635,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of SNOW. Morgan Stanley grew its stake in shares of Snowflake by 16.9% in the 2nd quarter. Morgan Stanley now owns 14,898,246 shares of the company’s stock worth $3,602,396,000 after buying an additional 2,150,500 shares during the last quarter. Capital Research Global Investors boosted its stake in Snowflake by 77.9% during the 3rd quarter. Capital Research Global Investors now owns 4,896,960 shares of the company’s stock valued at $1,480,945,000 after purchasing an additional 2,144,156 shares during the last quarter. Jennison Associates LLC boosted its stake in Snowflake by 81.5% during the 4th quarter. Jennison Associates LLC now owns 4,635,071 shares of the company’s stock valued at $1,570,130,000 after purchasing an additional 2,080,950 shares during the last quarter. Norges Bank purchased a new stake in Snowflake during the 4th quarter valued at $680,165,000. Finally, Scgf Iii Management LLC bought a new position in shares of Snowflake during the 4th quarter valued at $673,471,000. Institutional investors own 76.67% of the company’s stock.
About Snowflake (Get Rating)
Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
- Get a free copy of the StockNews.com research report on Snowflake (SNOW)
- MarketBeat: Week in Review 5/16 – 5/20
- 3 Retailers That Defied First Quarter Headwinds
- Will John Deere’s Earnings Help to Calm the Markets?
- Rapid7: Could Be Profitable in FY 2022 Despite Bear Market
- Lowe’s Companies Has Not Bottomed
Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.