Jefferies Financial Group Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price target hoisted by Jefferies Financial Group from $200.00 to $220.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 23.74% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on SNOW. Bank of America upped their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC upped their price objective on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Citigroup reduced their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $193.43.

Snowflake Trading Down 3.9 %

Shares of NYSE SNOW opened at $177.79 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $58.69 billion, a P/E ratio of -52.45 and a beta of 1.07. Snowflake has a 1-year low of $107.13 and a 1-year high of $235.66. The business has a fifty day moving average price of $172.88 and a 200 day moving average price of $143.96.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 394,345 shares of company stock worth $67,286,835. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Dedication LLC lifted its position in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after acquiring an additional 59 shares in the last quarter. Quarry LP lifted its position in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after acquiring an additional 59 shares in the last quarter. Breakwater Capital Group lifted its position in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares in the last quarter. Gabelli Funds LLC lifted its position in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

About Snowflake

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.