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

Snowflake (NYSE:SNOW - Get Free Report) had its price target lifted by equities researchers at Jefferies Financial Group from $220.00 to $250.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's price objective indicates a potential upside of 18.54% from the stock's current price.

A number of other equities research analysts have also commented on SNOW. JPMorgan Chase & Co. increased their price target on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Bank of America upped their price objective on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Morgan Stanley restated an "equal weight" rating on shares of Snowflake in a research note on Thursday, May 22nd. Cowen restated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Mizuho upped their price objective on Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $222.81.

Snowflake Stock Up 0.0%

Shares of NYSE:SNOW traded up $0.05 during trading on Monday, reaching $210.89. 1,204,146 shares of the stock were exchanged, compared to its average volume of 5,545,139. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick 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 fifty day moving average of $169.37 and a two-hundred day moving average of $169.42. The firm has a market cap of $70.41 billion, a price-to-earnings ratio of -62.21 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. Research analysts anticipate that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $205.67, for a total value of $2,056,700.00. Following the completion of the sale, the executive vice president now directly owns 570,632 shares in the company, valued at approximately $117,361,883.44. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 849,779 shares of company stock valued at $159,318,643. Corporate insiders own 6.80% of the company's stock.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake in the 1st quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the 4th quarter valued at about $29,000. CVA Family Office LLC raised its holdings in shares of Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares in the last quarter. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the 4th quarter valued at about $31,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Snowflake during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors 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.

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