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

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

Other equities analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday. Scotiabank dropped their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird dropped their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Stock Up 0.3 %

Shares of Snowflake stock traded up $0.50 during trading hours on Thursday, hitting $171.85. 8,272,944 shares of the company’s stock traded hands, compared to its average volume of 6,723,001. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a market cap of $57.60 billion, a PE ratio of -55.90 and a beta of 0.83. The stock has a 50 day simple moving average of $118.98 and a 200-day simple moving average of $128.19.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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 net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the previous year, the company posted ($0.52) earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts predict that Snowflake will post -2.41 EPS for the current year.

Insider Buying and Selling

In other news, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. Ontario Teachers Pension Plan Board boosted its holdings in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares during the period. Swedbank AB acquired a new stake in Snowflake during the first quarter worth approximately $258,957,000. Two Sigma Advisers LP boosted its holdings in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the last quarter. 65.10% of the stock is 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.