A share price of Snowflake Inc [SNOW] is currently trading at $152.97, down -1.68%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The SNOW shares have lost -0.03% over the last week, with a monthly amount drifted -5.74%, and not seem to be holding up well over a long-time horizon.
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On 28, March 2024, Snowflake Revolutionizes Secure, Cross-Cloud Collaboration for High Value Business Outcomes with Snowflake Data Clean Rooms. In a post published today on Yahoo Finance, Snowflake (NYSE: SNOW), the Data Cloud Company, today announced the general availability of Snowflake Data Clean Rooms to customers in AWS East, AWS West, and Azure West, revolutionizing how enterprises of all sizes can securely share data and collaborate in a privacy-preserving manner to achieve high value business outcomes in the Data Cloud. The general availability follows Snowflake’s acquisition of data clean room technology provider Samooha, which was named one of the most innovative data science companies of 2024 by Fast Company. Samooha is now integrated into the Data Cloud and enhanced by the unified set of compliance, security, privacy, interoperability, and access capabilities of Snowflake Horizon.
From an analyst’s perspective:
Snowflake Inc [NYSE: SNOW] stock has seen the most recent analyst activity on April 05, 2024, when Rosenblatt upgraded its rating to a Buy but kept the price target unchanged to $185 for it. Previously, Redburn Atlantic downgraded its rating to Sell on March 19, 2024, and dropped its price target to $125. On March 18, 2024, upgrade upgraded it’s rating to Neutral. Guggenheim upgraded its rating to a Neutral. Macquarie upgraded its rating to a Outperform. Morgan Stanley downgraded its rating to Equal-Weight for this stock on February 29, 2024, and downed its price target to $175. In a note dated February 29, 2024, HSBC Securities downgraded an Reduce rating on this stock.
Snowflake Inc experienced fluctuations in its stock price throughout the past year between $135.26 and $237.72. Currently, Wall Street analysts expect the stock to reach $223.03 within the next 12 months. Snowflake Inc [NYSE: SNOW] shares were valued at $152.97 at the most recent close of the market. An investor can expect a potential return of 45.8% based on the average SNOW price forecast.
Analyzing the SNOW fundamentals
Trailing Twelve Months sales for Snowflake Inc [NYSE:SNOW] were 2.81B which represents 31.53% growth. Gross Profit Margin for this corporation currently stands at 0.68% with Operating Profit Margin at -0.39%, Pretax Profit Margin comes in at -0.3%, and Net Profit Margin reading is -0.3%. To continue investigating profitability, this company’s Return on Assets is posted at -0.1, Equity is -0.16 and Total Capital is -0.2. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.06.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 151.84 points at the first support level, and at 150.72 for the second support level. However, for the 1st resistance point, the stock is sitting at 153.80, and for the 2nd resistance point, it is at 154.64.
Snowflake Inc [SNOW] reported earnings per share of $0.35 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.18/share, meaning a difference of $0.17 and a surprise factor of 94.40%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $0.25 per share as compared to estimates of $0.16 per share, a difference of $0.09 representing a surprise of 56.20%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Snowflake Inc [NYSE:SNOW] is 1.81. Further, the Quick Ratio stands at 1.81, while the Cash Ratio is 0.65. Considering the valuation of this stock, the price to sales ratio is 18.22, the price to book ratio is 9.88.
Transactions by insiders
Recent insider trading involved Ramaswamy Sridhar, Chief Executive Officer, that happened on Mar 25 ’24 when 31542.0 shares were purchased. Chief Accounting Officer, Ho Emily completed a deal on Mar 19 ’24 to sell 1968.0 shares. Meanwhile, CEO and Chairman Slootman Frank sold 19764.0 shares on Mar 18 ’24.
