Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

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

A number of other research firms also recently issued reports on SNOW. Barclays reissued an “overweight” rating and issued a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of Snowflake in a report on Thursday, June 5th. KeyCorp lowered their price target on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Piper Sandler reaffirmed an “overweight” rating and set a $215.00 price target (up previously from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Finally, Bank of America lifted their price target on shares of Snowflake from $172.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $222.81.

Snowflake Stock Performance

SNOW opened at $208.49 on Monday. 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 $69.61 billion, a price-to-earnings ratio of -61.50 and a beta of 1.21. The company’s 50 day moving average is $173.43 and its 200 day moving average is $170.25. Snowflake has a 12-month low of $107.13 and a 12-month high of $214.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. On average, equities research analysts predict that Snowflake will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 7,016 shares of the company’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 $1,092,321.04. Following the transaction, the director now directly owns 182,999 shares in the company, valued at approximately $28,491,114.31. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 3,765 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $586,172.85. Following the completion of the transaction, the executive vice president now owns 616,602 shares in the company, valued at approximately $95,998,765.38. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 900,459 shares of company stock worth $170,184,739 over the last quarter. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter worth about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter worth about $29,000. CVA Family Office LLC grew its holdings in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new position in shares of Snowflake in the fourth quarter worth about $31,000. Finally, Spurstone Advisory Services LLC bought a new position in shares of Snowflake in the fourth quarter worth about $31,000. 65.10% of the stock is currently owned by institutional investors.

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.