Jefferies Financial Group lifted its price target on Snowflake (SNOW, Financial) from $180.00 to $200.00. The investment firm also gave Snowflake a 'buy' rating and speculated a potential 17.08% upside from its current share price.
The revision comes after other research firms had some mixed ratings about the cloud data platform provider. In a research note, Stifel Nicolaus last week lowered its price target on Snowflake to $168.00 from $200.00 and reiterated a 'buy' rating on the stock. Needham & Company LLC also increased its price projection to $200.00 but, like many others, was optimistic about Snowflake's growth potential. Barclays raised its goal from $172.00 to $190.00 and gave an "equal weight” grading simultaneously.
On the other hand, UBS Group took a more cautious approach, lowering its target to $125.00 from $155.00 and describing the stock as 'neutral.' DA Davidson's price target for the company is $175.00, and it reiterated that it is a “buy,” underlined by its confidence in the company's performance path ahead.
According to the broader market analyst consensus, Snowflake has a “Moderate Buy” rating overall. MarketBeat data shows that two analysts issued “sell” recommendations, ten analysts issued “hold” recommendations, and 27 analysts issued “buy” recommendations. At the moment, the consensus price target for this could be $184.46.
Analysts continue to look to Snowflake, whose cloud-based data warehousing services recently have been a hit. Each rating is mixed and stems from different views on the company's valuation and potential for
