Snowflake Inc. [SNOW] Stock trading around $260.54 per share: What’s Next?

Snowflake Inc. [NYSE: SNOW] stock went on an upward path that rose over 5.04% on Wednesday, amounting to a one-week price increase of more than 8.22%. The company report on November 17, 2020 that Snowflake Announces Global Startup Challenge to Fuel Next Generation of Apps in the Data Cloud.

Winner may receive up to $250,000 investment and global exposure to an audience of data experts, venture capitalists and more .

Snowflake, creator of the Data Cloud, today announced its first-ever global Startup Challenge. The Startup Challenge invites early stage organizations that are building applications in the Snowflake Data Cloud to showcase their innovations via online submission, for a chance to be one of three finalists that will pitch to an audience of judges at Snowflake Summit in Summer 2021. The winner of the Startup Challenge may receive up to a $250,000 investment from Snowflake along with access to a global network of resources including venture capitalists and data experts.

The one-year Snowflake Inc. stock forecast points to a potential upside of 6.26. The average equity rating for SNOW stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $72.27 billion, with 277.38 million shares outstanding and 36.21 million shares in the current float. Compared to the average trading volume of 3.72M shares, SNOW stock reached a trading volume of 2195558 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Snowflake Inc. [SNOW]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNOW shares is $277.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNOW stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 12, 2020. While these analysts kept the previous recommendation, Stifel raised their target price to Hold. The new note on the price target was released on October 12, 2020, representing the official price target for Snowflake Inc. stock. Previously, the target price had yet another raise to $264, while Piper Sandler analysts kept a Overweight rating on SNOW stock.

The Average True Range (ATR) for Snowflake Inc. is set at 15.01, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 179.46.

SNOW Stock Performance Analysis:

Snowflake Inc. [SNOW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.22.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNOW stock in for the last two-week period is set at 55.11, with the RSI for the last a single of trading hit 58.35, and the three-weeks RSI is set at 52.28 for Snowflake Inc. [SNOW], while it was recorded at 244.12 for the last single week of trading.

Insight into Snowflake Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Snowflake Inc. [SNOW] shares currently have an operating margin of -135.26 and a Gross Margin at +55.97. Snowflake Inc.’s Net Margin is presently recorded at -131.65.

Return on Total Capital for SNOW is now -58.80, given the latest momentum, and Return on Invested Capital for the company is -58.29. Return on Equity for this stock declined to -70.40, with Return on Assets sitting at -39.23. When it comes to the capital structure of this company, Snowflake Inc. [SNOW] has a Total Debt to Total Equity ratio set at 53.93. Additionally, SNOW Total Debt to Total Capital is recorded at 35.04, with Total Debt to Total Assets ending up at 20.86.

Receivables Turnover for the company is 2.18 with a Total Asset Turnover recorded at a value of 0.30.Snowflake Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Snowflake Inc. [SNOW] Insider Position Details

Positions in Snowflake Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 322 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 65,917,556 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 65,917,556 shares, according to the latest SEC report filing. SNOW stock had 322 new institutional investments in for a total of 65,917,556 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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