Snowflake (NYSE:SNOW) Given “Overweight” Rating at Wells Fargo & Company

Snowflake (NYSE:SNOW)‘s stock had its “overweight” rating restated by research analysts at Wells Fargo & Company in a research report issued on Thursday, Marketbeat.com reports. They currently have a $225.00 price objective on the stock, up from their previous price objective of $200.00. Wells Fargo & Company‘s price target suggests a potential upside of 10.65% from the company’s previous close.

SNOW has been the subject of a number of other reports. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group boosted their price target on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley increased their price target on shares of Snowflake from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.46.

Snowflake Stock Up 13.5%

SNOW opened at $203.35 on Thursday. The company has a market capitalization of $67.13 billion, a P/E ratio of -59.99 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm’s fifty day moving average price is $158.29 and its two-hundred day moving average price is $162.99. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $204.00.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.14 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, analysts anticipate that Snowflake will post -2.36 EPS for the current year.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $168.01, for a total transaction of $67,708.03. Following the sale, the director now directly owns 25,972 shares of the company’s stock, valued at $4,363,555.72. This represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new position in Snowflake during the 1st quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $29,000. CVA Family Office LLC grew its stake in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the fourth quarter worth $31,000. Finally, Spurstone Advisory Services LLC acquired a new position in shares of Snowflake during the fourth quarter worth $31,000. 65.10% of the stock is currently 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.