Snowflake Inc. (NYSE:SNOW) Shares Rebounded 32.43% From Their Lows – But Can They Continue? – Marketing Sentinel
In recent trading session, Snowflake Inc. (NYSE:SNOW) saw 1.24 million shares changing hands at last check today with its beta currently measuring 0. Company’s recent per share price level of $273.38 trading at $4.02 or 1.49% at last check today assigns it a market valuation of $80.48B. That most recent trading price of SNOW’s stock is at a discount of -56.92% from its 52-week high price of $429.00 and is indicating a premium of 32.43% from its 52-week low price of $184.71. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.34 million shares which gives us an average trading volume of 4.35 million if we extend that period to 3-months.
For Snowflake Inc. (SNOW), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.40. Splitting up the data highlights that, out of 30 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 15 suggested the stock as a Hold whereas 13 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.15 in the current quarter.
Upright in the green today for gaining 1.49%, in the last five days SNOW remained trading in the green while hitting it’s week-highest on Thursday, 07/29/21 when the stock touched $273.38 price level, adding 0.51% to its value on the day. Snowflake Inc.’s shares saw a change of -4.28% in year-to-date performance and have moved 3.88% in past 5-day. Snowflake Inc. (NYSE:SNOW) showed a performance of 8.76% in past 30-days. Number of shares sold short was 10.06 million shares which calculate 2.01 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $293.20 to the stock, which implies a rise of 6.76% to its recent value today. Analysts have been projecting $240.00 as a low price target for the stock while placing it at a high target of $515.00. It follows that stock’s current price would drop -88.38% in reaching the projected high whereas dropping to the targeted low would mean a gain of 12.21% for stock’s current value.
Snowflake Inc. (SNOW) estimates and forecasts
Statistics highlight that Snowflake Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 1.19% of value to its shares in past 6 months, showing an annual growth rate of 68.68% while that of industry is 3.30. Apart from that, the company came raising its revenue forecast for fiscal year 2021. This year revenue growth is estimated to rise 88.10% from the last financial year’s standing.
23 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $256.42 million for the same. And 23 analysts are in estimates of company making revenue of $292.03 million in the next quarter that will end on Oct 2021.
Snowflake Inc. is more likely to be releasing its next quarterly report on May 26 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Snowflake Inc. (NYSE:SNOW)’s Major holders
Insiders are in possession of 5.09% of company’s total shares while institution are holding 58.33 percent of that, with stock having share float percentage of 61.47%. Investors also watch the number of corporate investors in a company very closely, which is 58.33% institutions for Snowflake Inc. that are currently holding shares of the company. ICONIQ Capital, LLC is the top institutional holder at SNOW for having 32.99 million shares of worth $7.56 billion. And as of Mar 30, 2021, it was holding 11.14% of the company’s outstanding shares.
The second largest institutional holder is Altimeter Capital Management, LP, which was holding about 32.22 million shares on Mar 30, 2021. The number of shares represents firm’s hold over 10.88% of outstanding shares, having a total worth of $7.39 billion.
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On the other hand, Morgan Stanley Inst Fd Inc-Growth Port and Morgan Stanley Insight Fund are the top two Mutual Funds which own company’s shares. As of Mar 30, 2021, the former fund manager was holding 2.65 million shares of worth $607.06 million or 0.89% of the total outstanding shares. The later fund manager was in possession of 1.19 million shares on Mar 30, 2021, making its stake of worth around $273.0 million in the company or a holder of 0.40% of company’s stock.