Monness Crespi & Hardt lifts Snowflake Inc. [SNOW] price estimate. Who else is bullish?

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Snowflake Inc. [NYSE: SNOW] surged by $8.0 during the normal trading session on Thursday and reaching a high of $269.17 during the day while it closed the day at $267.30. The company report on July 14, 2021 that Snowflake Announces Support of Unified ID 2.0.

The world’s largest advertisers, agencies and publishers will be able to easily enrich and activate audiences directly within the Snowflake Data Marketplace.

Snowflake (NYSE: SNOW), the Data Cloud company, announced support for Unified ID 2.0 to help organizations easily enrich audience data, without sharing consumers’ personally identifiable information (PII). With Unified ID 2.0 support, Snowflake customers will be able to optimize their data-first advertising strategies by directly activating audiences on any platform that has adopted Unified ID 2.0, using Snowflake’s secure data sharing technology.

Snowflake Inc. stock has also gained 6.49% of its value over the past 7 days. However, SNOW stock has inclined by 15.49% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.64% and lost -5.01% year-on date.

The market cap for SNOW stock reached $79.21 billion, with 291.39 million shares outstanding and 281.04 million shares in the current float. Compared to the average trading volume of 4.29M shares, SNOW reached a trading volume of 2961687 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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.

Monness Crespi & Hardt have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 12, 2021. The new note on the price target was released on May 18, 2021, representing the official price target for Snowflake Inc. stock. Previously, the target price had yet another raise from $270 to $275, while Goldman kept a Buy rating on SNOW stock.

The Average True Range (ATR) for Snowflake Inc. is set at 9.88, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 111.24. The Price to Book ratio for the last quarter was 15.71, with the Price to Cash per share for the same quarter was set at 13.26.

SNOW stock trade performance evaluation

Snowflake Inc. [SNOW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.49. With this latest performance, SNOW shares gained by 7.22% in over the last four-week period, additionally sinking by -6.64% 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 64.41, with the RSI for the last a single of trading hit 68.51, and the three-weeks RSI is set at 61.47 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 242.11, while it was recorded at 257.19 for the last single week of trading, and 261.19 for the last 200 days.

Snowflake Inc. [SNOW]: An insightful look at the core 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 Ownership positions

There are presently around $47,434 million, or 59.90% 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 $8.61 billion in SNOW stocks shares; and SC US (TTGP), LTD., currently with $4.67 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 467 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 105,523,989 shares. Additionally, 165 investors decreased positions by around 4,444,924 shares, while 66 investors held positions by with 67,486,520 shares. The mentioned changes placed institutional holdings at 177,455,433 shares, according to the latest SEC report filing. SNOW stock had 233 new institutional investments in for a total of 28,183,504 shares, while 71 institutional investors sold positions of 1,765,753 shares during the same period.

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