A secret that hides Snowflake Inc’s strength (NYSE:SNOW)

Stocks of Snowflake Inc (NYSE:SNOW) traded higher last session on Wall Street, down -1.71% to $163.03.

According to the data, Snowflake Inc (NYSE:SNOW) has 43 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $600.00 and a low of $105.00, we find $195.00. Given the previous closing price of $165.86, this indicates a potential upside of 17.57 percent. SNOW stock price is now 5.35% away from the 50-day moving average and 3.03% away from the 200-day moving average. The market capitalization of the company currently stands at $53.75B.

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A total of 13 analysts have issued a hold rating and 24 have given it a buy rating. Brokers who have rated the stock have averaged $198.62 as their price target over the next twelve months.

With the price target maintained at $195, CapitalOne recently Upgraded its rating from Equal Weight to Overweight for Snowflake Inc (NYSE: SNOW).

In other news, Kleinerman Christian, SVP, Product Management sold 1,500 shares of the company’s stock on Nov 14. The stock was sold for $247,125 at an average price of $164.75. Upon completion of the transaction, the SVP, Product Management now directly owns 658,789 shares in the company, valued at $107.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 10, President of Products Dageville Benoit sold 13,182 shares of the business’s stock. A total of $2,036,487 was realized by selling the stock at an average price of $154.49. This leaves the insider owning 40,847 shares of the company worth $6.66 million. Insiders disposed of 1,911,488 shares of company stock worth roughly $311.63 million over the past 1 year. A total of 8.96% of the company’s stock is owned by insiders.

Wednesday’s opening bell rang with an opening price of $166.57 for Snowflake Inc (NYSE: SNOW). During the past 12 months, Snowflake Inc has had a low of $119.27 and a high of $193.94. As of last week, the company has a debt-to-equity ratio of 0.06, a current ratio of 2.26, and a quick ratio of 2.26. The fifty day moving average price for SNOW is $154.75 and a two-hundred day moving average price translates $158.24 for the stock.

The latest earnings results from Snowflake Inc (NYSE: SNOW) was released for Jul, 2023. According to the Software – Application Company, earnings per share came in at $0.22, beating analysts’ expectations of $0.1 by 0.12. This compares to -$0.70 EPS in the same period last year. The net profit margin was -35.22% and return on equity was -16.07% for SNOW. The company reported revenue of $674.02 million for the quarter, compared to $497.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.55 percent. For the current quarter, analysts expect SNOW to generate $712.78M in revenue.

Snowflake Inc(SNOW) Company Profile

Snowflake Inc. provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is based in Bozeman, Montana.

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