Is Snowflake Inc (NYSE: SNOW) Back In The Buying Zone?

Currently, there are 323.31M common shares owned by the public and among those 303.60M shares have been available to trade.

Insiders at the company have transacted a total of 228 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 1,451,493 shares. Insider sales of the common stock occurred on 173 occasions, with total insider shares sold totaling 1,764,359 shares.

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However, the script later moved the day high at 235.66, up 1.34%. The company’s stock has a 5-day price change of 6.34% and 36.73% over the past three months. SNOW shares are trading 17.60% year to date (YTD), with the 12-month market performance up to 57.66% higher. It has a 12-month low price of $128.56 and touched a high of $237.72 over the same period. SNOW has an average intraday trading volume of 5.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.03%, 13.72%, and 33.44% respectively.

Institutional ownership of Snowflake Inc (NYSE: SNOW) shares accounts for 63.08% of the company’s 323.31M shares outstanding.

It has a market capitalization of $77.07B and a beta (3y monthly) value of 1.02. The earnings-per-share (ttm) stands at -$2.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.94% over the week and 3.77% over the month.

Analysts forecast that Snowflake Inc (SNOW) will achieve an EPS of $0.18 for the current quarter, $0.21 for the next quarter and $1.14 for 2025. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 219.77%, and 1.06% over the next financial year.

HSBC Securities coverage for the Snowflake Inc (SNOW) stock in a research note released on February 15, 2024 offered a Hold rating with a price target of $214. Barclays was of a view on January 12, 2024 that the stock is Equal Weight, while RBC Capital Mkts gave the stock Outperform rating on January 05, 2024, issuing a price target of $230. Monness Crespi & Hardt on their part issued Sell rating on January 04, 2024.

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