The trading price of Snowflake Inc. (NYSE:SNOW) closed lower on Tuesday, November 23, closing at $343.57, -3.48% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $335.05 and $353.50. In examining the 52-week price action we see that the stock hit a 52-week high of $429.00 and a 52-week low of $184.71. Over the past month, the stock has gained 0.61% in value.
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Snowflake Inc., whose market valuation is $104.77 billion at the time of this writing, is expected to release its quarterly earnings report May 26, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.06 per share this quarter, however they have predicted annual earnings per share of -$0.29 for 2022 and -$0.17 for 2023. It means analysts are expecting annual earnings per share growth of 81.40% this year and 41.40% next year.
Analysts have forecast the company to bring in revenue of $305.51 million for the current quarter, with the likely lows of $300.4 million and highs of $315.17 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $1.15 billion. The company’s revenue is forecast to grow by 93.90% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Snowflake Inc. 8 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest SNOW has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned SNOW a recommendation rating is 30. Out of them, 15 rate it a Hold, while 15 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Snowflake Inc. (SNOW) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that SNOW’s price is currently -6.97% off the SMA20 and 1.33% off the SMA50. The RSI metric on the 14-day chart is currently showing 41.88, and weekly volatility stands at 4.71%. When measured over the past 30 days, the indicator reaches 3.26%. Snowflake Inc. (NYSE:SNOW)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 13.07. With analysts defining $275.00-$575.00 as the low and high price targets, we arrive at a consensus price target of $360.28 for the trailing 12-month period. The current price is about 19.96% off the estimated low and -67.36% off the forecast high, based on this estimate. Investors will be thrilled if SNOW’s share price rises to $353.00, which is the median consensus price. At that level, SNOW’s share price would be -2.74% below current price.
To see how Snowflake Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: SNOW stock’s performance was -3.48% in the latest trading, and 25.32% in the past year. Snowflake Inc. has a P/E ratio of 0. Also in last trading session, the S&P 500 Index has surged 0.17%, while the Dow Jones Industrial also saw a positive session, up 0.55% on the day.
An evaluation of the daily trading volume of Snowflake Inc. (NYSE:SNOW) indicates that the 3-month average is 3.56 million. However, this figure has increased over the past 10 days to an average of 3.02 million.
Currently, records show that 297.72 million of the company’s shares remain outstanding. The insiders hold 0.10% of outstanding shares, whereas institutions hold 69.60%. The stats also highlight that short interest as of Jul 29, 2021, stood at 11.31 million shares, resulting in a short ratio of 3.63 at that time. From this, we can conclude that short interest is 3.82% of the company’s total outstanding shares. It is noteworthy that short shares in July were down slightly from the previous month’s figure, which was 13.2 million. However, since the stock’s price has seen 22.09% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.