Snowflake Inc. (NYSE:SNOW) – Experts See The Stock A Different Way Today – Marketing Sentinel
In the last trading session, 14.68 million shares of the Snowflake Inc. (NYSE:SNOW) were traded. Most recently the company’s share price was $304.35, and it changed around $6.5 or 2.18% from the last close, which brings the market valuation of the company to $92.41B. SNOW currently trades at a discount to its 52-week high of $429.00, offering almost -40.96% off that amount. The share price’s 52-week low was $184.71, which indicates that the current value has risen by an impressive 39.31% since then. We note from Snowflake Inc.’s average daily trading volume that its 10-day average is 6.18 million shares, with the 3-month average coming to 4.03 million.
Snowflake Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.40. If we narrow it down even further, the data shows that 0 out of 30 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 15 recommended SNOW as a Hold, whereas 13 deemed it a Buy, and 1 rated it as Underweight. Snowflake Inc. is expected to report earnings per share of -$0.15 for the current quarter.
Instantly SNOW has showed a green trend with a performance of 2.18% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 307.42 on Tuesday, 08/31/21 increased the stock’s daily price by 1.0%. The company’s shares are currently up 8.16% year-to-date, but still up 8.17% over the last five days. On the other hand, Snowflake Inc. (NYSE:SNOW) is 13.44% up in the 30-day period. We can see from the shorts that 11.31 million shares have been sold at a short interest cover period of 3.63 day(s).
The consensus price target as assigned by Wall Street analysts is $317.78, which translates to bulls needing to increase their stock price by 4.23% from its current value. Analyst projections state that SNOW is forecast to be at a low of $245.00 and a high of $515.00. In order for the stock price to hit the forecast high, the stock would need to plunge -69.21% from its current level, while the stock would need to crash 19.5% from its current level to reach the projected low.
Snowflake Inc. (SNOW) estimates and forecasts
Snowflake Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 23.20 percent over the past six months and at a 82.42% annual growth rate that is well above the industry average of 0.10%. The year-over-year growth rate is expected to be 92.90%, up from the previous year.
Consensus estimates provided by 22 financial analysts predict the company will bring in an average of $256.54 million in revenue for the current quarter. 22 analysts expect Snowflake Inc. to make $305.51 million in revenue for the quarter ending Oct 2021.
Snowflake Inc. earnings are expected to increase by -48.60% in 2021, but the outlook is negative -0.14% per year for the next five years.
Snowflake Inc.’s next quarterly earnings report is expected to be released on May 26.
Snowflake Inc. (NYSE:SNOW)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.09% of Snowflake Inc. shares, and 63.40% of them are in the hands of institutional investors. The stock currently has a share float of 66.80%. Snowflake Inc. stock is held by 864 institutions, with ICONIQ Capital, LLC being the largest institutional investor. By Jun 29, 2021, it held 11.18% of the shares, which is about 33.12 million shares worth $8.01 billion.
Altimeter Capital Management, LP, with 8.43% or 24.95 million shares worth $6.03 billion as of Jun 29, 2021, holds the second largest percentage of outstanding shares.
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Morgan Stanley Inst Fd Inc-Growth Port and Morgan Stanley Insight Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 2.65 million shares worth $607.06 million, making up 0.89% of all outstanding shares. On the other hand, Morgan Stanley Insight Fund held roughly 1.19 million shares worth around $273.0 million, which represents about 0.40% of the total shares outstanding.