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

Snowflake (NYSE:SNOW) had its price target upped by research analysts at Mizuho from $165.00 to $195.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 16.43% from the company’s current price.

SNOW has been the topic of a number of other reports. KeyCorp raised their price target on shares of Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Barclays increased their price objective on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen boosted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JMP Securities decreased their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Performance

Snowflake stock opened at $167.48 on Thursday. The business has a fifty day moving average of $120.06 and a two-hundred day moving average of $128.22. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the prior year, the business posted ($0.52) EPS. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. On average, equities analysts forecast that Snowflake will post -2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,538 shares of company stock valued at $7,061,544. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the stock. LRI Investments LLC raised its stake in shares of 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 during the period. Groupama Asset Managment acquired a new position in Snowflake during the third quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the third quarter valued at $30,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Snowflake in the 3rd quarter valued at $34,000. 65.10% of the stock is currently 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.