Snowflake Inc (NYSE:SNOW) price on current trading day, rose 0.20% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $183.43.
A look at the stock’s price movement, the level at last check in today’s session was $183.06, moving within a range at $182.8001 and $186.9. The beta value (5-Year monthly) was 0.828. Turning to its 52-week performance, $237.72 and $107.13 were the 52-week high and 52-week low respectively. Overall, SNOW moved 51.07% over the past month.
Snowflake Inc’s market cap currently stands at around $60.55 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 955.73M for the company’s revenue for the quarter, with a low and high estimate of 948.8M and 984M respectively. The average forecast suggests up to a 23.37% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.59B, representing a 27.78% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SNOW is a 100% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
39 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 9 analyst(s) rate the stock as a Hold, 29 recommend SNOW as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SNOW’s current price about 19.34% and 39.26% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 78.69, while 7-day volatility ratio is 3.37% and 3.81% in the 30-day chart. Further, Snowflake Inc (SNOW) has a beta value of 1.02, and an average true range (ATR) of 6.92. Analysts have given the company’s stock an average 52-week price target of $169, forecast between a low of $121 and high of $200. Looking at the price targets, the low is 34.03% off recent price level in today’s trading while to achieve the yearly target high, it has to move -9.03%. Nonetheless, investors will most likely welcome a 7.87% jump to $169 which is the analysts’ median price.
If we refocus on Snowflake Inc (NYSE:SNOW), historical trading data shows that trading volumes averaged 14.11 over the past 10 days and 7.24 million over the past 3 months. The company’s latest data on shares outstanding shows there are 330.07 million shares.
The 7.53% of Snowflake Inc’s shares are in the hands of company insiders while institutional holders own 58.93% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.77 million on 2024-10-31, giving us a short ratio of 2.42. The data shows that as of 2024-10-31 short interest in Snowflake Inc (SNOW) stood at 363.0 of shares outstanding, with shares short falling to 13.17 million registered in 2024-09-30. Current price change has pushed the stock -7.82% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SNOW stock continues to rise going into the next quarter.
