Mizuho Lowers Snowflake (NYSE:SNOW) Price Target to $180.00

Snowflake (NYSE:SNOW) had its price target dropped by equities researchers at Mizuho from $205.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price objective would suggest a potential upside of 36.33% from the stock’s current price.

SNOW has been the subject of several other reports. Oppenheimer reiterated an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a research note on Thursday, May 23rd. Bank of America cut their price objective on Snowflake from $212.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Scotiabank cut their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 23rd. JMP Securities reiterated a “market outperform” rating and set a $235.00 price objective on shares of Snowflake in a research note on Tuesday. Finally, Evercore ISI cut their price objective on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.92.

Snowflake Stock Down 1.7 %

Shares of Snowflake stock opened at $132.03 on Wednesday. Snowflake has a twelve month low of $128.41 and a twelve month high of $237.72. The business has a 50-day moving average price of $153.84 and a 200 day moving average price of $178.97. The firm has a market cap of $44.12 billion, a PE ratio of -47.15 and a beta of 0.85.

Insider Transactions at Snowflake

In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank Slootman sold 19,764 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.66, for a total value of $3,096,228.24. Following the sale, the chief executive officer now directly owns 233,297 shares in the company, valued at approximately $36,548,308.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,880 shares of company stock valued at $12,890,065. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Large investors have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new position in Snowflake in the fourth quarter valued at $25,000. LRI Investments LLC purchased a new position in Snowflake in the first quarter valued at $29,000. Provence Wealth Management Group acquired a new position in Snowflake in the third quarter valued at $30,000. Riverview Trust Co acquired a new position in Snowflake in the first quarter valued at $31,000. Finally, Hartford Financial Management Inc. acquired a new position in Snowflake in the first quarter valued at $32,000. 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.