Snowflake Inc (NYSE:SNOW) shares, rose in value, with the stock price up by 1.67% to the previous day’s close as strong demand from buyers drove the stock to $153.86.
Actively observing the price movement in the last trading, the stock closed the session at $151.34. The value of beta (5-year monthly) was 0.94. Referring to stock’s 52-week performance, its high was $237.72, and the low was $135.26. On the whole, SNOW has fluctuated by -7.87% over the past month.
With the market capitalization of Snowflake Inc currently standing at about $51.42 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 22, 2024 – May 27, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.18, which is expected to increase to $0.31 for fiscal year $0.97 and then to about $1.4 by fiscal year 2026. Data indicates that the EPS growth is expected to be -1.00% in 2026, while the next year’s EPS growth is forecast to be 44.30%.
Analysts have estimated the company’s revenue for the quarter at $786.3 million, with a low estimate of $780.81 million and a high estimate of $805.43 million. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $3.43 billion, representing an increase of 22.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SNOW’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SNOW currently trading nearly -3.43% and -19.57% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.65, while the 7-day volatility ratio is showing 2.37% which for the 30-day chart, stands at 2.91%. Furthermore, Snowflake Inc (SNOW)’s beta value is 0.92, and its average true range (ATR) is 6.03.
A comparison of Snowflake Inc (SNOW) with its peers suggests the former has fared considerably weaker in the market. SNOW showed an intraday change of 1.67% in last session, and over the past year, it shrunk by -1.01%%.
Data on historical trading for Snowflake Inc (NYSE:SNOW) indicates that the trading volumes over the past 10 days have averaged 5.94 million and over the past 3 months, they’ve averaged 7.16 million. According to company’s latest data on outstanding shares, there are 334.45 million shares outstanding.
Nearly 7.97% of Snowflake Inc’s shares belong to company insiders and institutional investors own 62.19% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.69 million shares as on Mar 15, 2024, resulting in a short ratio of 0.86. According to the data, the short interest in Snowflake Inc (SNOW) stood at 2.60% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 10.36 million. The stock has fallen by -22.68% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SNOW stock heading into the next quarter.
