Snowflake's (SNOW) Overweight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reiterated their overweight rating on shares of Snowflake (NYSE:SNOW - Free Report) in a research note published on Thursday, MarketBeat Ratings reports. They currently have a $225.00 price objective on the stock, up from their previous price objective of $200.00.

SNOW has been the topic of a number of other research reports. Jefferies Financial Group lifted their target price on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday. Macquarie initiated coverage on Snowflake in a research report on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 target price on the stock. Wall Street Zen raised Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Monness Crespi & Hardt lifted their target price on Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their target price on Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have issued 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, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $217.33.

Snowflake Stock Down 1.6%

Shares of NYSE:SNOW traded down $3.19 during trading on Thursday, hitting $199.99. 11,901,781 shares of the company's stock traded hands, compared to its average volume of 6,474,139. Snowflake has a 52 week low of $107.13 and a 52 week high of $205.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $66.02 billion, a price-to-earnings ratio of -58.99 and a beta of 1.11. The company has a 50-day moving average price of $159.20 and a 200-day moving average price of $163.86.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous 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, research analysts forecast that Snowflake will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares of the company's stock, valued at $102,186,956.25. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after buying an additional 59 shares in the last quarter. Quarry LP lifted its position in shares of Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after acquiring an additional 59 shares during the period. Ignite Planners LLC lifted its position in shares of Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock valued at $418,000 after acquiring an additional 64 shares during the period. Gabelli Funds LLC lifted its position in shares of Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after acquiring an additional 65 shares during the period. Finally, Archford Capital Strategies LLC lifted its position in shares of Snowflake by 1.9% during the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after acquiring an additional 68 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

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.