Snowflake (NYSE:SNOW) Given New $250.00 Price Target at Jefferies Financial Group

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

Other research analysts have also recently issued reports about the company. Piper Sandler reissued an “overweight” rating and issued a $215.00 target price (up from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. Bank of America boosted their price objective on Snowflake from $172.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Oppenheimer raised their target price on shares of Snowflake from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday. Hsbc Global Res downgraded shares of Snowflake from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 22nd. Finally, BTIG Research reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $222.81.

Snowflake Stock Performance

SNOW stock opened at $210.75 on Monday. Snowflake has a twelve month low of $107.13 and a twelve month high of $214.83. The company has a quick ratio of 1.88, a current 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. The business’s fifty day moving average is $170.50 and its 200-day moving average is $169.72.

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

Insider Transactions at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,092,321.04. Following the completion of the transaction, the director now owns 182,999 shares in the company, valued at approximately $28,491,114.31. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 898,052 shares of company stock worth $169,679,365. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC increased its stake in Snowflake by 23.4% during the 1st quarter. Inspire Investing LLC now owns 2,066 shares of the company’s stock worth $302,000 after acquiring an additional 392 shares during the period. Strs Ohio acquired a new position in shares of Snowflake in the 1st quarter valued at approximately $10,209,000. SWS Partners lifted its holdings in shares of Snowflake by 2.5% during the 1st quarter. SWS Partners now owns 20,683 shares of the company’s stock worth $3,023,000 after acquiring an additional 507 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after acquiring an additional 73 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in shares of Snowflake by 0.5% during the 1st quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company’s stock worth $7,896,000 after acquiring an additional 274 shares in 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.