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

Snowflake (NYSE:SNOW) had its price objective boosted by Mizuho from $190.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 12.02% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Loop Capital raised their target price on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. DA Davidson lowered their price objective on shares of Snowflake from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Jefferies Financial Group cut their price target on Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Monness Crespi & Hardt lifted their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.28.

Snowflake Price Performance

Snowflake stock opened at $183.01 on Thursday. The stock has a market capitalization of $60.41 billion, a PE ratio of -53.98 and a beta of 1.11. The business has a 50 day simple moving average of $155.65 and a 200-day simple moving average of $161.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the fourth quarter worth approximately $29,000. CVA Family Office LLC boosted its position in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. bought a new position in Snowflake during the fourth quarter worth $31,000. Finally, Spurstone Advisory Services LLC acquired a new position in Snowflake during the 4th quarter valued at $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.