Snowflake Inc. [NYSE: SNOW] price surged by 8.36 percent to reach at $10.37. 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.
A sum of 8179129 shares traded at recent session while its average daily volume was at 5.77M shares. Snowflake Inc. shares reached a high of $137.64 and dropped to a low of $126.67 until finishing in the latest session at $134.43.
The one-year SNOW stock forecast points to a potential upside of 30.55. The average equity rating for SNOW stock is currently 2.20, trading closer to a bullish pattern in the stock market.
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 $193.56 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.
Wells Fargo have made an estimate for Snowflake Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 06, 2023. While these analysts kept the previous recommendation, Wedbush raised their target price to Neutral. The new note on the price target was released on December 15, 2022, representing the official price target for Snowflake Inc. stock. Previously, the target price had yet another raise to $173, while Macquarie analysts kept a Neutral rating on SNOW stock.
The Average True Range (ATR) for Snowflake Inc. is set at 8.42, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 22.77. The Price to Book ratio for the last quarter was 7.95, with the Price to Cash per share for the same quarter was set at 12.51. Price to Free Cash Flow for SNOW in the course of the last twelve months was 110.49 with Quick ratio for the last quarter at 3.10.
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 -6.35. With this latest performance, SNOW shares dropped by -2.17% in over the last four-week period, additionally sinking by -13.49% over the last 6 months – not to mention a drop of -54.75% 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 45.99, with the RSI for the last a single of trading hit 47.41, and the three-weeks RSI is set at 45.62 for Snowflake Inc. [SNOW]. The present Moving Average for the last 50 days of trading for this stock 143.67, while it was recorded at 129.20 for the last single week of trading, and 160.30 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 3.10 and a Current Ratio set at 3.10.
Snowflake Inc. [SNOW] Insider Position Details
There are presently around $28,664 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 $2.29 billion in SNOW stocks shares; and MORGAN STANLEY, currently with $2.15 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 November and at the time of the November reporting period, where 486 institutional holders increased their position in Snowflake Inc. [NYSE:SNOW] by around 21,282,981 shares. Additionally, 359 investors decreased positions by around 20,075,816 shares, while 137 investors held positions by with 171,867,724 shares. The mentioned changes placed institutional holdings at 213,226,521 shares, according to the latest SEC report filing. SNOW stock had 128 new institutional investments in for a total of 3,247,765 shares, while 94 institutional investors sold positions of 2,189,616 shares during the same period.