Now Is The Time To Buy Snowflake Inc. (NYSE: SNOW) – Marketing Sentinel
During the recent session, Snowflake Inc. (NYSE:SNOW)’s traded shares were 1.4 million. At the last check today, the stock’s price was $284.57, reflecting an intraday gain of 3.15% or $8.7. The 52-week high for the SNOW share is $429.00, that puts it down -50.75 from that peak though still a striking 35.09% gain since the share price plummeted to a 52-week low of $184.71. The company’s market capitalization is $81.55B, and the average trade volume was 4.20 million shares over the past three months.
Snowflake Inc. (SNOW) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. SNOW has a Sell rating from 0 analyst(s) out of 30 analysts who have looked at this stock. 15 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 13 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.15.
Snowflake Inc. (SNOW) registered a 3.15% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.15% in intraday trading to $284.57 this Wednesday, 08/11/21, hitting a weekly high. The stock’s 5-day price performance is 0.91%, and it has moved by 4.25% in 30 days.
The consensus price target of analysts on Wall Street is $293.20, which implies an increase of 2.94% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $240.00 and $515.00 respectively. As a result, SNOW is trading at a discount of -80.97% off the target high and 15.66% off the low.
Snowflake Inc. (SNOW) estimates and forecasts
Statistics show that Snowflake Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Snowflake Inc. (SNOW) shares have gone down -9.82% during the last six months, with a year-to-date growth rate more than the industry average at 68.68% against 2.90. In the rating firms’ projections, revenue will increase 88.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $256.54 million as predicted by 22 analyst(s). Meanwhile, a consensus of 22 analyst(s) estimates revenue growth to $292.33 million by the end of Oct 2021.
While earnings are projected to return -202.20% in 2021.
Snowflake Inc. is due to release its next quarterly earnings on August 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Snowflake Inc. (NYSE:SNOW)’s Major holders
Snowflake Inc. insiders own 5.09% of total outstanding shares while institutional holders control 60.89%, with the float percentage being 64.16%. ICONIQ Capital, LLC is the largest shareholder of the company, while 851 institutions own stock in it. As of Mar 30, 2021, the company held over 32.99 million shares (or 11.14% of all shares), a total value of $7.56 billion in shares.
The next largest institutional holding, with 32.22 million shares, is of Altimeter Capital Management, LP’s that is approximately 10.88% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $7.39 billion.
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Also, the Mutual Funds coming in first place with the largest holdings of Snowflake Inc. (SNOW) shares are Morgan Stanley Inst Fd Inc-Growth Port and Morgan Stanley Insight Fund. Data provided on Mar 30, 2021 indicates that Morgan Stanley Inst Fd Inc-Growth Port owns about 2.65 million shares. This amounts to just over 0.89 percent of the company’s overall shares, with a $607.06 million market value. The same data shows that the other fund manager holds slightly less at 1.19 million, or about 0.40% of the stock, which is worth about $273.0 million.