Snowflake Inc. [SNOW] stock Initiated by Wedbush analyst, price target now $144

Snowflake Inc. [NYSE: SNOW] closed the trading session at $141.21 on 12/20/22. The day’s price range saw the stock hit a low of $134.792, while the highest price level was $141.99. The company report on November 30, 2022 that Snowflake Reports Financial Results for the Third Quarter of Fiscal 2023.

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Product revenue of $522.8 million in the third quarter, representing 67% year-over-year growth.

Remaining performance obligations of $3.0 billion, representing 66% year-over-year growth.

The stocks have a year to date performance of -58.31 percent and weekly performance of -6.22 percent. The stock has been moved at 10.87 percent over the last six months. The stock has performed -3.41 percent around the most recent 30 days and changed -20.99 percent over the most recent 3-months.

If compared to the average trading volume of 6.01M shares, SNOW reached to a volume of 3615152 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 $195.02 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.

Wedbush have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 15, 2022. While these analysts kept the previous recommendation, Macquarie raised their target price to Neutral. The new note on the price target was released on November 02, 2022, representing the official price target for Snowflake Inc. stock.

The Average True Range (ATR) for Snowflake Inc. is set at 8.27, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 24.44. The Price to Book ratio for the last quarter was 8.36, with the Price to Cash per share for the same quarter was set at 12.24. Price to Free Cash Flow for SNOW in the course of the last twelve months was 118.61 with Quick ratio for the last quarter at 3.10.

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 -6.22. With this latest performance, SNOW shares dropped by -3.41% in over the last four-week period, additionally plugging by 10.87% over the last 6 months – not to mention a drop of -57.35% 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 45.84, with the RSI for the last a single of trading hit 45.42, and the three-weeks RSI is set at 45.94 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 151.19, while it was recorded at 142.72 for the last single week of trading, and 164.15 for the last 200 days.

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

Snowflake Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.

Snowflake Inc. [SNOW]: Insider Ownership positions

There are presently around $30,675 million, or 68.40% 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 $2.4 billion in SNOW stocks shares; and MORGAN STANLEY, currently with $2.26 billion in SNOW stock with ownership of nearly -3.125% of the company’s market capitalization.

488 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 23,603,137 shares. Additionally, 361 investors decreased positions by around 20,075,620 shares, while 139 investors held positions by with 173,549,247 shares. The mentioned changes placed institutional holdings at 217,228,004 shares, according to the latest SEC report filing. SNOW stock had 128 new institutional investments in for a total of 5,237,053 shares, while 94 institutional investors sold positions of 2,189,602 shares during the same period.

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