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

Currently, there are 334.45M common shares owned by the public and among those 309.91M shares have been available to trade.

The company’s stock has a 5-day price change of 3.81% and -3.57% over the past three months. SNOW shares are trading -34.55% year to date (YTD), with the 12-month market performance down to -19.53% lower. It has a 12-month low price of $107.13 and touched a high of $237.72 over the same period. SNOW has an average intraday trading volume of 6.70 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 7.71%, 10.85%, and -8.79% respectively.

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Institutional ownership of Snowflake Inc (NYSE: SNOW) shares accounts for 57.99% of the company’s 334.45M shares outstanding.

It has a market capitalization of $43.66B and a beta (3y monthly) value of 0.85. The earnings-per-share (ttm) stands at -$3.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.80% over the week and 2.91% over the month.

Analysts forecast that Snowflake Inc (SNOW) will achieve an EPS of 0.15 for the current quarter, 0.12 for the next quarter and 0.93 for current fiscal year. The lowest estimate earnings-per-share for the quarter is 0.12 while analysts give the company a high EPS estimate of 0.12. Comparatively, EPS for the current quarter was 0.25 a year ago. Earnings per share for the fiscal year are expected to decrease by -39.14%, and 53.91% over the next financial year. EPS should grow at an annualized rate of 13.00% over the next five years, compared to -31.70% over the past 5-year period.

Looking at the support for the SNOW, a number of firms have released research notes about the stock. Monness Crespi & Hardt stated their Buy rating for the stock in a research note on November 06, 2024, with the firm’s price target at $140. Argus was of a view on October 01, 2024 that the stock is Hold, while HSBC Securities gave the stock Hold rating on August 23, 2024, issuing a price target of $119- $121. Wells Fargo on their part issued Equal Weight rating on August 15, 2024.

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