Jefferies Financial Group Increases Snowflake (NYSE:SNOW) Price Target to $220.00

Snowflake (NYSE:SNOW) had its price target increased by stock analysts at Jefferies Financial Group from $200.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 23.74% from the stock’s current price.

Several other brokerages have also recently issued reports on SNOW. Truist Financial reissued a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Evercore ISI lifted their price objective on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research report on Tuesday, February 18th. Finally, Cantor Fitzgerald began coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.43.

Snowflake Trading Down 3.9 %

Shares of NYSE:SNOW opened at $177.79 on Friday. The stock has a market capitalization of $58.69 billion, a price-to-earnings ratio of -52.45 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50-day simple moving average is $172.88 and its two-hundred day simple moving average is $143.96. Snowflake has a 52-week low of $107.13 and a 52-week high of $235.66.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 394,345 shares of company stock valued at $67,286,835. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of the business. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. State Street Corp lifted its holdings in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the period. Norges Bank purchased a new stake in shares of Snowflake in the 4th quarter worth $988,950,000. FMR LLC lifted its holdings in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares during the period. Finally, GQG Partners LLC purchased a new stake in shares of Snowflake in the 4th quarter worth $750,572,000. 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.