Mizuho Issues Pessimistic Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price target decreased by stock analysts at Mizuho from $285.00 to $220.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 20.64% from the company’s current price.

A number of other analysts also recently issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of Snowflake in a research note on Thursday, December 4th. The Goldman Sachs Group decreased their price target on shares of Snowflake from $286.00 to $246.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Robert W. Baird boosted their target price on shares of Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Sanford C. Bernstein restated a “market perform” rating and set a $237.00 target price on shares of Snowflake in a research report on Thursday, December 4th. Finally, Canaccord Genuity Group lifted their price target on Snowflake from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.97.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $182.37 on Tuesday. The company has a market cap of $62.41 billion, a P/E ratio of -45.14 and a beta of 1.14. Snowflake has a 52-week low of $120.10 and a 52-week high of $280.67. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s fifty day moving average is $207.74 and its two-hundred day moving average is $224.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. The business’s revenue was up 28.7% on a year-over-year basis. As a group, analysts anticipate that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the transaction, the senior vice president directly owned 218,020 shares in the company, valued at $48,060,328.80. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $197.09, for a total value of $1,970,900.00. Following the completion of the sale, the executive vice president owned 461,351 shares of the company’s stock, valued at $90,927,668.59. This represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 613,681 shares of company stock valued at $130,573,518 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNOW. Avion Wealth boosted its stake in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Snowflake during the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC purchased a new position in shares of Snowflake in the 3rd quarter valued at $28,000. Rossby Financial LCC increased its holdings in shares of Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. Finally, Greenline Wealth Management LLC bought a new position in shares of Snowflake in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.