Market Analysts see Snowflake Inc. [SNOW] gaining to $285. Time to buy?

Snowflake Inc. [NYSE: SNOW] price surged by 7.67 percent to reach at $19.19. The company report on June 22, 2021 that Snowflake Wraps Up Biggest Virtual Global User Conference, Spotlights New Innovations for Data Scientists.

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Over 70 customer sessions, hands-on labs, executive keynotes, and more showcased the power of the Data Cloud at Snowflake Summit 2021.

Snowflake (NYSE: SNOW), the Data Cloud company, hosted its third-annual Snowflake Summit conference June 8-10 and which saw over 60,000 virtual global registrants to explore the transformational power of data. Throughout the event, Snowflake customers, partners, technical experts, and executives came together to share product innovation, customer successes, and provide hands-on experience for unlocking value from data in the Data Cloud. Announcements and sessions from the event centered on empowering data scientists with features that deliver extensibility and choice, expanding what’s possible with data in Snowflake’s Data Cloud.

A sum of 9839938 shares traded at recent session while its average daily volume was at 4.11M shares. Snowflake Inc. shares reached a high of $272.00 and dropped to a low of $249.82 until finishing in the latest session at $269.49.

The one-year SNOW stock forecast points to a potential upside of 8.07. The average equity rating for SNOW stock is currently 2.40, trading closer to a bullish pattern in the stock market.

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 $293.15 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 2.40. 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.

Rosenblatt have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 18, 2021. While these analysts kept the previous recommendation, Goldman raised their target price from $270 to $275. The new note on the price target was released on May 14, 2021, representing the official price target for Snowflake Inc. stock.

The Average True Range (ATR) for Snowflake Inc. is set at 9.24, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 104.09. The Price to Book ratio for the last quarter was 15.83, with the Price to Cash per share for the same quarter was set at 14.29.

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 13.83. With this latest performance, SNOW shares gained by 9.10% in over the last four-week period, additionally sinking by -11.41% over the last 6 months.

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 70.50, with the RSI for the last a single of trading hit 77.55, and the three-weeks RSI is set at 65.24 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 234.05, while it was recorded at 248.97 for the last single week of trading, and 260.31 for the last 200 days.

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 -91.87 and a Gross Margin at +58.84. Snowflake Inc.’s Net Margin is presently recorded at -91.06.

Return on Total Capital for SNOW is now -18.94, given the latest momentum, and Return on Invested Capital for the company is -18.90. Return on Equity for this stock declined to -20.24, with Return on Assets sitting at -15.55. When it comes to the capital structure of this company, Snowflake Inc. [SNOW] has a Total Debt to Total Equity ratio set at 4.14. Additionally, SNOW Total Debt to Total Capital is recorded at 3.98, with Total Debt to Total Assets ending up at 3.45. Long-Term Debt to Equity for the company is recorded at 3.75, with the Long-Term Debt to Total Capital now at 3.60.

Reflecting on the efficiency of the workforce at the company, Snowflake Inc. [SNOW] managed to generate an average of -$216,073 per employee. Receivables Turnover for the company is 2.50 with a Total Asset Turnover recorded at a value of 0.17.Snowflake Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.40.

Snowflake Inc. [SNOW] Insider Position Details

There are presently around $47,647 million, or 59.60% of SNOW stock, in the hands of institutional investors. The top three institutional holders of SNOW stocks are: ICONIQ CAPITAL, LLC with ownership of 32,989,621, which is approximately 272.427% of the company’s market cap and around 0.20% of the total institutional ownership; ALTIMETER CAPITAL MANAGEMENT, LP, holding 32,221,080 shares of the stock with an approximate value of $8.68 billion in SNOW stocks shares; and SC US (TTGP), LTD., currently with $4.71 billion in SNOW stock with ownership of nearly New of the company’s market capitalization.

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Positions in Snowflake Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 456 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 105,076,515 shares. Additionally, 154 investors decreased positions by around 4,550,732 shares, while 67 investors held positions by with 67,176,468 shares. The mentioned changes placed institutional holdings at 176,803,715 shares, according to the latest SEC report filing. SNOW stock had 226 new institutional investments in for a total of 27,966,809 shares, while 66 institutional investors sold positions of 1,958,164 shares during the same period.

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