Don’t Let Recent momentum Confuse Your Outlook on Snowflake Inc. [SNOW]

Snowflake Inc. [SNOW] stock is up 14.07 while the S&P 500 has risen 0.88% on Friday, 12/04/20. While at the time of this article, SNOW ATR is sitting at 23.85. This stock’s volatility for the past week remained at 12.22%, while it was 7.53% for the past 30-day period. SNOW has risen $47.81 from the previous closing price of $339.89 on volume of 18.61 million shares.

On 2, December 2020, CORRECTING and REPLACING Snowflake Reports Financial Results for the Third Quarter of Fiscal 2021. According to news published on Yahoo Finance, Product revenue of $148.5 million, representing 115% year-over-year growth.

Analyst Birdseye View:

The most recent analyst activity for Snowflake Inc. [NYSE:SNOW] stock was on October 12, 2020, when it was Initiated with a Buy rating from Truist, which also raised its 12-month price target on the stock to $350. On October 12, 2020, Stifel Initiated a Hold rating and boosted its price target on this stock to $250. On October 12, 2020, Piper Sandler Initiated an Overweight rating and increased its price target to $264. On October 12, 2020, Oppenheimer Initiated an Outperform rating and increased its price target to $300. On October 12, 2020, Morgan Stanley Initiated an Equal-weight rating and boosted its amount on this stock to $220. On October 12, 2020, Mizuho Initiated a Buy rating and boosted its target amount on this stock to $300. On October 12, 2020, Loop Capital Initiated a Hold rating and improved its amount target to $250.

In the past 52 weeks of trading, this stock has oscillated between a low of $208.55 and a peak of $343.00. Right now, the middling Wall Street analyst 12-month amount mark is $297.50. At the most recent market close, shares of Snowflake Inc. [NYSE:SNOW] were valued at $387.70. According to the average price forecast, investors can expect a potential return of 0.78%.

FUNDAMENTAL ANALYSIS

Snowflake Inc. [NYSE:SNOW] most recently reported quarterly sales of 159.62 billion, which represented growth of 118.60%. This company’s Gross Margin is currently 60.30%, its Operating Margin is -87.60%, its Pretax Margin is -131.27, and its Net Margin is -131.65. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at -39.23, -70.40, -58.80 and -58.29 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 35.04 and the whole liability to whole assets at 20.86. It shows enduring liability to the whole principal at 32.04 and enduring liability to assets at 0.19 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 349.20 points at 1st support level, the second support level is making up to 310.70. But as of 1st resistance point, this stock is sitting at 411.00 and at 434.30 for 2nd resistance point.

Snowflake Inc. [SNOW] reported its earnings at -$0.28 per share in the fiscal quarter closing of 10/30/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.26/share signifying the difference of -0.02 and -7.70% surprise value.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Snowflake Inc. [NYSE:SNOW] is 9.10. Likewise, the Quick ratio is also the same, showing Cash ratio at 1.08.

Insider Stories

The most recent insider trade was by ICONIQ Strategic Partners III,, 10% Owner, and it was the purchase of 0.42 million shares on Sep 18. GERSTNER BRAD, the 10% Owner, completed a purchase of 0.42 million shares on Sep 18.