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

Snowflake (NYSE:SNOW) had its target price lifted by Mizuho from $195.00 to $205.00 in a research note published on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Friday, January 10th. Royal Bank of Canada lifted their price target on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. KeyCorp upped their price objective on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup dropped their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.63.

Snowflake Price Performance

Shares of Snowflake stock opened at $187.56 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 12 month low of $107.13 and a 12 month high of $236.33. The stock has a 50 day moving average of $171.21 and a 200 day moving average of $140.48. The firm has a market cap of $61.91 billion, a PE ratio of -55.33 and a beta of 1.07.

Insider Buying and Selling at Snowflake

In other news, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 516,933 shares of company stock worth $88,283,752 over the last quarter. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently modified their holdings of the company. Prudential PLC raised its stake in shares of Snowflake by 326.1% during the 4th quarter. Prudential PLC now owns 17,429 shares of the company’s stock valued at $2,691,000 after buying an additional 13,339 shares during the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Snowflake by 3.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company’s stock worth $406,000 after acquiring an additional 77 shares during the period. Proem Advisors LLC purchased a new stake in shares of Snowflake during the 4th quarter worth about $6,176,000. Pitcairn Co. increased its stake in shares of Snowflake by 10.2% in the 4th quarter. Pitcairn Co. now owns 2,738 shares of the company’s stock valued at $423,000 after purchasing an additional 254 shares in the last quarter. Finally, Grant Private Wealth Management Inc acquired a new stake in Snowflake in the fourth quarter valued at approximately $487,000. Institutional investors and hedge funds 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.