For Snowflake Inc. [SNOW], Analyst sees a rise to $173. What next?

Snowflake Inc. [NYSE: SNOW] stock went on a downward path that fall over -3.20% on Tuesday, amounting to a one-week price decrease of less than -3.25%. The company report on November 7, 2022 that Snowflake Scales Data Cloud Ecosystem Through Industry Solutions and Powered by Snowflake Program.

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Powered by Snowflake program scales over 6x year-over-year as of July 31, 2022, fueling new innovations.

Vertical and horizontal solutions showcase major growth with the launch of four industry-focused Data Clouds to date, driven in partnership with over [120] partners as of July 31, 2022.

Over the last 12 months, SNOW stock dropped by -62.56%. The one-year Snowflake Inc. stock forecast points to a potential upside of 36.33. The average equity rating for SNOW stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $42.78 billion, with 318.36 million shares outstanding and 289.81 million shares in the current float. Compared to the average trading volume of 6.19M shares, SNOW stock reached a trading volume of 3676849 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $214.47 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 2.20. 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.

Macquarie have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 02, 2022. While these analysts kept the previous recommendation, Bernstein raised their target price to Mkt Perform. The new note on the price target was released on October 11, 2022, representing the official price target for Snowflake Inc. stock. Previously, the target price had yet another raise to $242, while MoffettNathanson analysts kept a Buy rating on SNOW stock.

The Average True Range (ATR) for Snowflake Inc. is set at 9.16, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 26.12. The Price to Book ratio for the last quarter was 8.01, with the Price to Cash per share for the same quarter was set at 12.62. Price to Free Cash Flow for SNOW in the course of the last twelve months was 131.26 with Quick ratio for the last quarter at 3.20.

SNOW Stock Performance Analysis:

Snowflake Inc. [SNOW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.25. With this latest performance, SNOW shares dropped by -14.48% in over the last four-week period, additionally plugging by 6.98% over the last 6 months – not to mention a drop of -62.56% 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 39.78, with the RSI for the last a single of trading hit 36.82, and the three-weeks RSI is set at 41.61 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 160.40, while it was recorded at 142.43 for the last single week of trading, and 173.04 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 -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.

Snowflake Inc. [SNOW] Insider Position Details

There are presently around $29,678 million, or 68.80% of SNOW stock, in the hands of institutional investors. The top three institutional holders of SNOW stocks are: VANGUARD GROUP INC with ownership of 17,293,889, which is approximately 8.314% of the company’s market cap and around 0.10% of the total institutional ownership; ALTIMETER CAPITAL MANAGEMENT, LP, holding 17,001,796 shares of the stock with an approximate value of $2.32 billion in SNOW stocks shares; and MORGAN STANLEY, currently with $2.19 billion in SNOW stock with ownership of nearly -3.125% of the company’s market capitalization.

Positions in Snowflake Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 485 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 23,698,646 shares. Additionally, 364 investors decreased positions by around 20,075,058 shares, while 139 investors held positions by with 173,551,964 shares. The mentioned changes placed institutional holdings at 217,325,668 shares, according to the latest SEC report filing. SNOW stock had 127 new institutional investments in for a total of 5,236,059 shares, while 95 institutional investors sold positions of 2,190,327 shares during the same period.


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