Market Analysts see Snowflake Inc. [SNOW] gaining to $253. Time to buy?


Snowflake Inc. [NYSE: SNOW] surged by $5.04 during the normal trading session on Tuesday and reaching a high of $202.49 during the day while it closed the day at $197.43. The company report on April 11, 2022 that Snowflake to Bring Together The World of Data Collaboration at Snowflake Summit 2022, Live in Las Vegas.

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Fourth annual user conference will feature four days filled with 10 tracks, 250 sessions, 200 ecosystem partners, and more, to showcase collaboration, learning, and imagination in the Data Cloud.

Headline speakers include Snowflake Chairman and CEO, Frank Slootman, Snowflake Co-Founder and President of Products, Benoit Dageville, American free-solo rock climber and adventurer, Alex Honnold, and hundreds of technical, data, and business experts from across industries.

Snowflake Inc. stock has also loss -5.32% of its value over the past 7 days. However, SNOW stock has declined by -31.37% in the 3 months of the year. Over the past six months meanwhile, it has lost -41.57% and lost -41.72% year-on date.

The market cap for SNOW stock reached $67.05 billion, with 308.79 million shares outstanding and 267.58 million shares in the current float. Compared to the average trading volume of 5.84M shares, SNOW reached a trading volume of 4509296 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 $318.69 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 2.30. 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.

SMBC Nikko have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 01, 2022. While these analysts kept the previous recommendation, Atlantic Equities raised their target price to Neutral. The new note on the price target was released on March 31, 2022, representing the official price target for Snowflake Inc. stock. Previously, the target price had yet another raise to $190, while Exane BNP Paribas analysts kept a Underperform rating on SNOW stock. On February 07, 2022, analysts increased their price target for SNOW shares from 344 to 390.

The Average True Range (ATR) for Snowflake Inc. is set at 14.03, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 54.99. The Price to Book ratio for the last quarter was 12.08, with the Price to Cash per share for the same quarter was set at 11.34. Price to Free Cash Flow for SNOW in the course of the last twelve months was 713.25 with Quick ratio for the last quarter at 3.30.

SNOW stock trade performance evaluation

Snowflake Inc. [SNOW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.32. With this latest performance, SNOW shares dropped by -11.41% in over the last four-week period, additionally sinking by -41.57% over the last 6 months – not to mention a drop of -12.34% in the past year of trading.

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 39.96, with the RSI for the last a single of trading hit 37.09, and the three-weeks RSI is set at 41.13 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 235.67, while it was recorded at 202.76 for the last single week of trading, and 293.08 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 -58.64 and a Gross Margin at +61.95. Snowflake Inc.’s Net Margin is presently recorded at -55.76.

Return on Equity for this stock declined to -13.62, with Return on Assets sitting at -10.82.

Snowflake Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

Earnings per share (EPS) analysis for Snowflake Inc. [SNOW] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNOW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Snowflake Inc. go to -0.14%.

Snowflake Inc. [SNOW]: Insider Ownership positions

There are presently around $40,530 million, or 68.10% of SNOW stock, in the hands of institutional investors. The top three institutional holders of SNOW stocks are: ICONIQ CAPITAL, LLC with ownership of 25,102,653, which is approximately -15.361% of the company’s market cap and around 0.20% of the total institutional ownership; ALTIMETER CAPITAL MANAGEMENT, LP, holding 17,001,796 shares of the stock with an approximate value of $3.27 billion in SNOW stocks shares; and MORGAN STANLEY, currently with $3.12 billion in SNOW stock with ownership of nearly -3.587% of the company’s market capitalization.

Positions in Snowflake Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 596 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 28,035,281 shares. Additionally, 308 investors decreased positions by around 22,618,834 shares, while 92 investors held positions by with 160,011,544 shares. The mentioned changes placed institutional holdings at 210,665,659 shares, according to the latest SEC report filing. SNOW stock had 241 new institutional investments in for a total of 8,849,681 shares, while 84 institutional investors sold positions of 3,577,171 shares during the same period.