Market Analysts see Snowflake Inc. [SNOW] gaining to $184. Time to buy?


Snowflake Inc. [NYSE: SNOW] jumped around 3.19 points on Tuesday, while shares priced at $131.26 at the close of the session, up 2.49%. The company report on June 7, 2022 that Snowflake Launches New Cybersecurity Workload to Detect and Respond to Threats with the Data Cloud.

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Snowflake’s new Cybersecurity workload provides a unified, secure, and scalable data platform for helping security teams eliminate blind spots and respond to threats at cloud-scale.

Customers like CSAA Insurance Group, DoorDash, Dropbox, Figma, and TripActions are leveraging Snowflake’s Cybersecurity workload to unify data, gain near-unlimited visibility, and combat threats faster with powerful analytics.

Snowflake Inc. stock is now -61.25% down from its year-to-date (YTD) trading value. SNOW Stock saw the intraday high of $131.90 and lowest of $124.31 per share. The company’s 52-week high price is 405.00, which means current price is +17.09% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 7.44M shares, SNOW reached a trading volume of 5780144 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $203.46 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 2.10. 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.

Raymond James have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 03, 2022. While these analysts kept the previous recommendation, Rosenblatt dropped their target price from $325 to $255. The new note on the price target was released on May 24, 2022, representing the official price target for Snowflake Inc. stock. Previously, the target price had yet another raise to $250, while Wolfe Research analysts kept a Outperform rating on SNOW stock.

The Average True Range (ATR) for Snowflake Inc. is set at 13.24, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 31.47. The Price to Book ratio for the last quarter was 8.03, with the Price to Cash per share for the same quarter was set at 11.37. Price to Free Cash Flow for SNOW in the course of the last twelve months was 472.97 with Quick ratio for the last quarter at 3.30.

How has SNOW stock performed recently?

Snowflake Inc. [SNOW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.83. With this latest performance, SNOW shares dropped by -15.46% in over the last four-week period, additionally sinking by -61.58% over the last 6 months – not to mention a drop of -47.56% 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 41.06, with the RSI for the last a single of trading hit 43.43, and the three-weeks RSI is set at 40.19 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 173.30, while it was recorded at 130.71 for the last single week of trading, and 273.41 for the last 200 days.

Snowflake Inc. [SNOW]: Deeper insight into the 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.

Insider trade positions for Snowflake Inc. [SNOW]

There are presently around $27,758 million, or 68.70% of SNOW stock, in the hands of institutional investors. The top three institutional holders of SNOW stocks are: ICONIQ CAPITAL, LLC with ownership of 24,427,632, which is approximately -2.689% of the company’s market cap and around 0.20% of the total institutional ownership; ALTIMETER CAPITAL MANAGEMENT, LP, holding 17,041,796 shares of the stock with an approximate value of $2.18 billion in SNOW stocks shares; and MORGAN STANLEY, currently with $1.98 billion in SNOW stock with ownership of nearly -4.931% of the company’s market capitalization.

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 508 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 28,773,346 shares. Additionally, 441 investors decreased positions by around 18,564,188 shares, while 108 investors held positions by with 169,401,239 shares. The mentioned changes placed institutional holdings at 216,738,773 shares, according to the latest SEC report filing. SNOW stock had 140 new institutional investments in for a total of 5,291,212 shares, while 182 institutional investors sold positions of 4,945,810 shares during the same period.