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

Snowflake (NYSE:SNOW) had its price target raised by stock analysts at Jefferies Financial Group from $220.00 to $250.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 20.06% from the company’s previous close.

Several other brokerages also recently weighed in on SNOW. HSBC downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Royal Bank of Canada boosted their price target on Snowflake from $236.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Sanford C. Bernstein reissued a “market perform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Robert W. Baird boosted their price target on Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Finally, Daiwa America raised Snowflake to a “strong-buy” rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.81.

Snowflake Stock Down 1.2%

Shares of NYSE:SNOW opened at $208.23 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a 1 year low of $107.13 and a 1 year high of $214.83. The stock has a market capitalization of $69.52 billion, a P/E ratio of -61.42 and a beta of 1.21. The stock has a 50-day simple moving average of $171.87 and a 200-day simple moving average of $169.99.

Snowflake (NYSE:SNOW) last issued its earnings results 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. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts forecast that Snowflake will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the completion of the sale, the executive vice president now directly owns 570,632 shares of the company’s stock, valued at approximately $117,361,883.44. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $211.35, for a total transaction of $85,174.05. Following the sale, the director now directly owns 25,569 shares of the company’s stock, valued at $5,404,008.15. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 898,052 shares of company stock valued at $169,679,365 over the last three months. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Norges Bank purchased a new stake in Snowflake during the fourth quarter valued at about $988,950,000. GQG Partners LLC purchased a new stake in Snowflake during the fourth quarter valued at about $750,572,000. Nuveen LLC purchased a new stake in Snowflake during the first quarter valued at about $555,847,000. FMR LLC lifted its stake in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after buying an additional 2,805,425 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.