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

Snowflake (NYSE:SNOW) had its target price upped by Wells Fargo & Company from $210.00 to $215.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 21.63% from the company’s current price.

SNOW has been the subject of several other reports. Rosenblatt Securities raised their target price on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC raised their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. Wedbush set a $210.00 price target on Snowflake in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group raised their price target on Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Up 1.8 %

Shares of SNOW opened at $176.76 on Thursday. The firm has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a 50 day simple moving average of $173.19 and a two-hundred day simple moving average of $145.51.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at $123,625,813. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,528,625. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 312,193 shares of company stock worth $52,833,048. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Snowflake during the 4th quarter worth $24,081,000. Employees Retirement System of Texas raised its stake in Snowflake by 300.3% in the fourth quarter. Employees Retirement System of Texas now owns 43,235 shares of the company’s stock valued at $6,676,000 after buying an additional 32,435 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in shares of Snowflake by 139.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 6,135 shares of the company’s stock worth $947,000 after acquiring an additional 3,577 shares during the last quarter. Carolinas Wealth Consulting LLC acquired a new position in shares of Snowflake during the fourth quarter valued at about $32,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake in the 4th quarter worth approximately $31,000. 65.10% of the stock is currently owned by hedge funds and other 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.