Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Mizuho Analyst Says

Snowflake (NYSE:SNOW) had its target price upped by Mizuho from $165.00 to $195.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on SNOW. Needham & Company LLC upped their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. JMP Securities decreased their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. DA Davidson reiterated a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Monness Crespi & Hardt increased their target price on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Scotiabank lowered their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $167.44 on Thursday. The company has a market capitalization of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. The company’s fifty day moving average is $120.06 and its 200-day moving average is $127.80. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 in the last quarter. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNOW. LRI Investments LLC lifted its position in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Groupama Asset Managment acquired a new stake in shares of Snowflake in the 3rd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake in the second quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter worth about $30,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Snowflake during the third quarter worth about $34,000. 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.