Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Snowflake (NYSE:SNOW - Get Free Report) had its price target boosted by Wells Fargo & Company from $225.00 to $250.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 20.11% from the company's previous close.

Other analysts have also issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of Snowflake from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday. Cowen reissued a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. HSBC lowered shares of Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JMP Securities restated a "market outperform" rating and set a $245.00 price objective on shares of Snowflake in a research report on Wednesday, June 4th. Finally, Canaccord Genuity Group raised their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $223.50.

Snowflake Trading Down 1.5%

Shares of Snowflake stock traded down $3.14 during mid-day trading on Friday, hitting $208.14. 3,634,177 shares of the stock were exchanged, compared to its average volume of 6,258,838. Snowflake has a twelve month low of $107.13 and a twelve month high of $214.83. The stock has a market capitalization of $69.49 billion, a price-to-earnings ratio of -61.40 and a beta of 1.21. The company has a 50-day simple moving average of $175.03 and a 200 day simple moving average of $170.52. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company's quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Research analysts forecast that Snowflake will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 7,908 shares of Snowflake stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $154.67, for a total value of $1,223,130.36. Following the completion of the transaction, the executive vice president now directly owns 600,632 shares of the company's stock, valued at $92,899,751.44. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 903,058 shares of company stock valued at $170,730,711 over the last ninety days. 6.80% of the stock is owned by company insiders.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC lifted its stake in Snowflake by 23.4% in the first quarter. Inspire Investing LLC now owns 2,066 shares of the company's stock valued at $302,000 after buying an additional 392 shares in the last quarter. Strs Ohio acquired a new position in Snowflake during the first quarter worth $10,209,000. SWS Partners increased its holdings in Snowflake by 2.5% during the first quarter. SWS Partners now owns 20,683 shares of the company's stock worth $3,023,000 after buying an additional 507 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after buying an additional 73 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in Snowflake by 0.5% during the first quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company's stock worth $7,896,000 after buying an additional 274 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.