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

Snowflake (NYSE:SNOW) had its target price upped by Jefferies Financial Group from $180.00 to $200.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on SNOW. Robert W. Baird decreased their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Bank of America upped their price objective on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Mizuho upped their price objective on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Barclays upped their price objective on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.46.

Snowflake Stock Performance

Shares of SNOW opened at $172.60 on Monday. The company’s fifty day moving average is $140.12 and its 200-day moving average is $129.75. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a market cap of $56.97 billion, a price-to-earnings ratio of -50.91 and a beta of 1.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In related news, 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 transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the transaction, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 283,158 shares of company stock valued at $46,709,467. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. State Street Corp lifted its position in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC lifted its position in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP lifted its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board lifted its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares during the period. Finally, Legal & General Group Plc lifted its position in Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares during the period. 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.