Warren Buffett, a Snowflake (NYSE: SNOW) investor, once said, "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." The logic behind this quote is that you may never get a low price on the best companies in the market, and these companies will consistently outperform decent companies whose stocks are cheaper.

But what about wonderful companies at high prices? That's precisely where Snowflake investors are finding themselves.

While the company just reported another expectation-smashing quarter, the stock is rather pricey. But is it too pricey? Let's find out.

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Source Fool.com