Snowflake Inc. [NYSE: SNOW] jumped around 1.43 points on Friday, while shares priced at $197.71 at the close of the session, up 0.73%. The company report on August 24, 2022 that Snowflake Reports Financial Results for the Second Quarter of Fiscal 2023.
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Product revenue of $466.3 million in the second quarter, representing 83% year-over-year growth.
Remaining performance obligations of $2.7 billion, representing 78% year-over-year growth.
Snowflake Inc. stock is now -41.64% down from its year-to-date (YTD) trading value. SNOW Stock saw the intraday high of $205.66 and lowest of $194.83 per share. The company’s 52-week high price is 405.00, which means current price is +79.30% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 7.65M shares, SNOW reached a trading volume of 19998794 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 $217.48 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 2.00. 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.
CapitalOne have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on August 19, 2022. While these analysts kept the previous recommendation, UBS raised their target price from $165 to $175. The new note on the price target was released on August 16, 2022, representing the official price target for Snowflake Inc. stock. Previously, the target price had yet another raise to $125, while Guggenheim analysts kept a Sell rating on SNOW stock.
The Average True Range (ATR) for Snowflake Inc. is set at 11.43, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 38.12. The Price to Book ratio for the last quarter was 11.39, with the Price to Cash per share for the same quarter was set at 12.08. Price to Free Cash Flow for SNOW in the course of the last twelve months was 664.18 with Quick ratio for the last quarter at 3.20.
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 28.43. With this latest performance, SNOW shares gained by 37.99% in over the last four-week period, additionally sinking by -26.62% over the last 6 months – not to mention a drop of -35.23% 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 70.10, with the RSI for the last a single of trading hit 75.90, and the three-weeks RSI is set at 65.66 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 152.66, while it was recorded at 171.63 for the last single week of trading, and 225.03 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 3.20 and a Current Ratio set at 3.20.
Insider trade positions for Snowflake Inc. [SNOW]
There are presently around $42,536 million, or 67.90% of SNOW stock, in the hands of institutional investors. The top three institutional holders of SNOW stocks are: ICONIQ CAPITAL, LLC with ownership of 17,422,870, which is approximately -28.676% 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 $3.36 billion in SNOW stocks shares; and MORGAN STANLEY, currently with $3.27 billion in SNOW stock with ownership of nearly 7.032% of the company’s market capitalization.
Positions in Snowflake Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 533 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 27,967,477 shares. Additionally, 374 investors decreased positions by around 25,594,718 shares, while 114 investors held positions by with 161,582,408 shares. The mentioned changes placed institutional holdings at 215,144,603 shares, according to the latest SEC report filing. SNOW stock had 150 new institutional investments in for a total of 9,450,221 shares, while 155 institutional investors sold positions of 2,214,276 shares during the same period.