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

Snowflake (NYSE:SNOW) had its price target boosted by Jefferies Financial Group from $220.00 to $250.00 in a report issued on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other analysts have also issued reports on SNOW. Mizuho raised their target price on Snowflake from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. DA Davidson restated a “buy” rating and issued a $250.00 price objective on shares of Snowflake in a research note on Wednesday, June 4th. Cantor Fitzgerald boosted their target price on shares of Snowflake from $183.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. BTIG Research reissued a “buy” rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Macquarie boosted their price objective on shares of Snowflake from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.81.

Snowflake Price Performance

NYSE SNOW opened at $210.75 on Monday. Snowflake has a 1 year low of $107.13 and a 1 year high of $214.83. The company has a fifty day simple moving average of $170.50 and a 200 day simple moving average of $169.72. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $70.36 billion, a P/E ratio of -62.17 and a beta of 1.21.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. On average, sell-side analysts predict that Snowflake will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 3,765 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $586,172.85. Following the completion of the transaction, the executive vice president now directly owns 616,602 shares of the company’s stock, valued at approximately $95,998,765.38. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 7,016 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the transaction, the director now owns 182,999 shares in the company, valued at $28,491,114.31. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 898,052 shares of company stock worth $169,679,365. Insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kirtland Hills Capital Management LLC boosted its position in Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock valued at $2,458,000 after buying an additional 4,559 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snowflake by 455.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company’s stock valued at $19,174,000 after acquiring an additional 101,806 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Snowflake in the fourth quarter worth about $3,088,000. GraniteShares Advisors LLC bought a new stake in Snowflake during the 4th quarter worth about $781,000. Finally, Deutsche Bank AG raised its holdings in Snowflake by 26.0% during the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company’s stock worth $142,513,000 after purchasing an additional 190,583 shares during the last quarter. Institutional investors and hedge funds 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.