Mizuho Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its target price raised by research analysts at Mizuho from $195.00 to $205.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 11.69% from the stock’s previous close.

A number of other analysts have also recently weighed in on SNOW. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a report on Friday, January 10th. Cantor Fitzgerald began coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.34.

Snowflake Trading Down 1.4 %

Snowflake stock opened at $183.54 on Wednesday. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The stock has a market capitalization of $60.59 billion, a PE ratio of -54.14 and a beta of 1.07. The firm has a 50 day simple moving average of $171.06 and a 200-day simple moving average of $140.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Toronto Dominion Bank boosted its position in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares in the last quarter. Prospect Financial Services LLC bought a new stake in shares of Snowflake in the 4th quarter valued at $288,000. Independent Advisor Alliance grew its stake in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Bourgeon Capital Management LLC acquired a new position in shares of Snowflake during the fourth quarter valued at about $5,851,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the period. 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.