Snowflake (NYSE:SNOW) Price Target Raised to $180.00

Snowflake (NYSE:SNOW) had its price target lifted by Jefferies Financial Group from $145.00 to $180.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. JMP Securities lowered their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Loop Capital lowered their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Argus assumed coverage on Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating for the company. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Finally, KeyCorp lifted their price objective on Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Trading Down 2.3 %

SNOW stock opened at $167.44 on Thursday. The company has a market cap of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. The firm has a 50 day moving average of $120.06 and a 200-day moving average of $128.00. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period in the previous year, the business earned ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. Sell-side analysts forecast that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares in the company, valued at $86,610,600. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,061,544 in the last three months. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in SNOW. Covestor Ltd boosted its holdings in Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares during the period. Modus Advisors LLC grew its position in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares during the last quarter. Catalyst Private Wealth LLC lifted its holdings in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares during the last quarter. Iron Gate Global Advisors LLC boosted its stake in Snowflake by 0.9% in the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock valued at $1,878,000 after acquiring an additional 105 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the last quarter. 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.