Snowflake Inc [NYSE: SNOW] price surged by 1.28 percent to reach at $2.02. The company report on March 18, 2024 at 6:01 PM that Snowflake Teams with NVIDIA to Deliver Full-Stack AI Platform for Customers to Transform Their Industries.
Snowflake Cortex to support NVIDIA models to accelerate AI productivity in the Data Cloud.
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Snowflake (NYSE: SNOW), the Data Cloud Company, today announced at NVIDIA GTC an expanded collaboration with NVIDIA that further empowers enterprise customers with an AI platform, bringing together the full-stack NVIDIA accelerated platform with the trusted data foundation and secure AI of Snowflake’s Data Cloud. Together, Snowflake and NVIDIA deliver a secure and formidable combination of infrastructure and compute capabilities designed to unlock and accelerate AI productivity and fuel business transformations across every industry.
The one-year SNOW stock forecast points to a potential upside of 26.53. The average equity rating for SNOW stock is currently 1.91, 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 $217.82 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 1.91. 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.
Redburn Atlantic have made an estimate for Snowflake Inc shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 19, 2024. The new note on the price target was released on March 18, 2024, representing the official price target for Snowflake Inc stock.
The Average True Range (ATR) for Snowflake Inc is set at 6.76, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 18.78. The Price to Book ratio for the last quarter was 10.33, with the Price to Cash per share for the same quarter was set at 11.68. Price to Free Cash Flow for SNOW in the course of the last twelve months was 67.66 with Quick ratio for the last quarter at 1.81.
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 -1.84. With this latest performance, SNOW shares dropped by -31.62% in over the last four-week period, additionally plugging by 8.83% over the last 6 months – not to mention a rise of 18.57% 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 33.82, with the RSI for the last a single of trading hit 34.80, and the three-weeks RSI is set at 36.08 for Snowflake Inc [SNOW]. The present Moving Average for the last 50 days of trading for this stock 195.10, while it was recorded at 158.72 for the last single week of trading, and 175.35 for the last 200 days.
Insight into Snowflake Inc Fundamentals:
Snowflake Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.81 and a Current Ratio set at 1.81.
SNOW Stock EPS
With the latest financial reports released by the company, Snowflake Inc posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 200.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNOW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Snowflake Inc go to 18.05%.
Snowflake Inc [SNOW] Institutonal Ownership Details
The top three institutional holders of SNOW stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SNOW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SNOW stock with ownership which is approximately 5.8325%.
