Snowflake (NYSE:SNOW) Given New $285.00 Price Target at Mizuho

Snowflake (NYSE:SNOW) had its target price upped by Mizuho from $260.00 to $285.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on SNOW. Canaccord Genuity Group increased their price objective on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Barclays increased their target price on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. UBS Group boosted their price target on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Evercore ISI upped their price objective on Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada lifted their target price on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $262.39.

Snowflake Trading Down 1.6%

NYSE SNOW opened at $252.92 on Monday. Snowflake has a one year low of $120.10 and a one year high of $280.67. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $85.69 billion, a P/E ratio of -60.94 and a beta of 1.23. The stock’s 50-day moving average is $244.58 and its 200-day moving average is $219.87.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. Sell-side analysts anticipate that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Frank Slootman sold 710,083 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the sale, the director owned 165,507 shares in the company, valued at $38,144,398.29. This represents a 81.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 931,388 shares of company stock valued at $216,578,628. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake in the 2nd quarter valued at about $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Snowflake in the 3rd quarter valued at about $25,000. Avion Wealth grew its holdings in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Tripletail Wealth Management LLC acquired a new position in Snowflake during the third quarter worth approximately $28,000. Finally, Rossby Financial LCC raised its stake in Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares during the period. 65.10% of the stock is owned by institutional investors.

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.