Mizuho Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price target lifted by Mizuho from $195.00 to $205.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 6.39% from the company’s current price.

Several other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. KeyCorp upped their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Bank of America upped their target price on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Jefferies Financial Group upped their target price on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC increased their price target on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.63.

Snowflake Stock Up 2.9 %

Shares of Snowflake stock opened at $192.69 on Wednesday. Snowflake has a one year low of $107.13 and a one year high of $236.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s 50-day moving average is $171.23 and its 200 day moving average is $140.81. The firm has a market cap of $63.61 billion, a price-to-earnings ratio of -56.84 and a beta of 1.07.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 516,933 shares of company stock valued at $88,283,752. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

A number of large investors have recently bought and sold shares of SNOW. Groupama Asset Managment bought a new position in shares of Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter worth $29,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the third quarter worth $30,000. Quadrant Capital Group LLC boosted its holdings in shares of Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of Snowflake in the third quarter worth $34,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.