Snowflake (NYSE:SNOW) Given New $205.00 Price Target at Mizuho

Snowflake (NYSE:SNOW) had its price objective lifted by equities researchers at Mizuho from $195.00 to $205.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 6.39% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Wedbush raised Snowflake from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. Loop Capital lifted their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price objective on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, TD Cowen lifted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.63.

Snowflake Price Performance

NYSE:SNOW opened at $192.69 on Wednesday. The firm has a market capitalization of $63.61 billion, a price-to-earnings ratio of -56.84 and a beta of 1.07. Snowflake has a 52-week low of $107.13 and a 52-week high of $236.33. The stock has a fifty day moving average of $171.23 and a 200 day moving average of $140.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 approximately $58,398,119.22. This represents a 18.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock worth $88,283,752 in the last 90 days. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings 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 during the period. Prospect Financial Services LLC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $288,000. Independent Advisor Alliance boosted its position in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $5,851,000. Hedge funds and other 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.