Snowflake (NYSE:SNOW) Price Target Raised to $225.00 at Wells Fargo & Company

Snowflake (NYSE:SNOW) had its target price lifted by stock analysts at Wells Fargo & Company from $200.00 to $225.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 12.93% from the stock’s current price.

Other equities analysts have also issued reports about the stock. DA Davidson lowered their price target on shares of Snowflake from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. KeyCorp dropped their price target on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Canaccord Genuity Group increased their price target on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Jefferies Financial Group lifted their price objective on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating on shares of Snowflake in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.19.

Snowflake Trading Up 11.2%

Shares of SNOW stock opened at $199.25 on Thursday. Snowflake has a 12-month low of $107.13 and a 12-month high of $201.10. The company has a market capitalization of $65.77 billion, a PE ratio of -58.38 and a beta of 1.11. The firm has a 50 day moving average price of $157.35 and a two-hundred day moving average price of $162.37. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($1.13). Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.14 EPS. Snowflake’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, analysts predict that Snowflake will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the sale, the director now owns 25,972 shares in the company, valued at $4,363,555.72. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. This trade represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds have recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $29,000. CVA Family Office LLC lifted its holdings in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new stake in Snowflake during the fourth quarter worth $31,000. Finally, Spurstone Advisory Services LLC bought a new stake in Snowflake during the fourth quarter worth $31,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.