Snowflake (NYSE:SNOW) Price Target Raised to $150.00 at Wells Fargo & Company

Snowflake (NYSE:SNOW) had its target price upped by Wells Fargo & Company from $125.00 to $150.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group decreased their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Loop Capital decreased their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays dropped their price target on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Up 0.3 %

Shares of NYSE:SNOW traded up $0.50 during mid-day trading on Thursday, reaching $171.85. 8,272,944 shares of the stock were exchanged, compared to its average volume of 6,723,001. The stock’s 50 day simple moving average is $118.98 and its 200-day simple moving average is $128.19. Snowflake has a one year low of $107.13 and a one year high of $237.72. The company has a market cap of $57.60 billion, a P/E ratio of -55.90 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the company earned ($0.52) earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. Analysts anticipate that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,538 shares of company stock worth $7,061,544. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. Covestor Ltd lifted its stake in shares of Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the period. Modus Advisors LLC raised its stake in Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares during the period. Catalyst Private Wealth LLC raised its position in shares of Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the period. Iron Gate Global Advisors LLC lifted its holdings in shares of Snowflake by 0.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock worth $1,878,000 after purchasing an additional 105 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the period. 65.10% of the stock is currently 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.