Reviewing The Case For Snowflake Inc (SNOW) Going Higher

Currently, there are 323.31M common shares owned by the public and among those 303.01M shares have been available to trade.

Insiders at the company have transacted a total of 225 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 54 of these insider trades were purchases, accounting for 1,341,197 shares. Insider sales of the common stock occurred on 171 occasions, with total insider shares sold totaling 1,754,306 shares.

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However, the script later moved the day high at 186.55, down -4.71%. The company’s stock has a 5-day price change of -22.95% and -5.20% over the past three months. SNOW shares are trading -10.59% year to date (YTD), with the 12-month market performance up to 31.53% 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 6.10 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 -19.89%, -13.90%, and 1.00% respectively.

Institutional ownership of Snowflake Inc (NYSE: SNOW) shares accounts for 63.09% of the company’s 323.31M shares outstanding.

It has a market capitalization of $58.59B and a beta (3y monthly) value of 0.94. The earnings-per-share (ttm) stands at -$2.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.27% over the week and 4.03% over the month.

Analysts forecast that Snowflake Inc (SNOW) will achieve an EPS of $0.18 for the current quarter, $0.22 for the next quarter and $1.44 for 2026. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.15 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.90%, and 46.45% over the next financial year. EPS should grow at an annualized rate of 18.05% over the next five years, compared to -31.70% over the past 5-year period.

Morgan Stanley coverage for the Snowflake Inc (SNOW) stock in a research note released on February 29, 2024 offered a Equal-Weight rating with a price target of $175. HSBC Securities on their part issued Hold rating on February 15, 2024.

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