Stocks of Snowflake Inc. (SNOW) are poised to climb above their peers

Snowflake Inc. (NYSE: SNOW) stock jumped 1.13% on Wednesday to $177.14 against a previous-day closing price of $175.16. With 10.02 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.59 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $178.40 whereas the lowest price it dropped to was $172.12. The 52-week range on SNOW shows that it touched its highest point at $205.66 and its lowest point at $110.26 during that stretch. It currently has a 1-year price target of $184.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SNOW was up-trending over the past week, with a rise of 1.79%, but this was up by 30.75% over a month. Three-month performance surged to 15.69% while six-month performance rose 25.51%. The stock gained 27.58% in the past year, while it has gained 23.41% so far this year. A look at the trailing 12-month EPS for SNOW yields -2.50 with Next year EPS estimates of 1.01. For the next quarter, that number is 0.12. This implies an EPS growth rate of -10.40% for this year and 68.84% for next year.

Float and Shares Shorts:

At present, 321.96 million SNOW shares are outstanding with a float of 291.41 million shares on hand for trading. On Apr 27, 2023, short shares totaled 13.2 million, which was 4.06% higher than short shares on Mar 30, 2023. In addition to Mr. Frank Slootman as the firm’s Chairman & CEO, Dr. Benoit Dageville serves as its Co-Founder, Pres of Product Division & Director.

Institutional Ownership:

Through their ownership of 66.86% of SNOW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 35.56% of SNOW, in contrast to 31.47% held by mutual funds. Shares owned by individuals account for 28.79%. As the largest shareholder in SNOW with 5.36% of the stake, The Vanguard Group, Inc. holds 17,426,254 shares worth 17,426,254. A second-largest stockholder of SNOW, Altimeter Capital Management LP, holds 15,369,459 shares, controlling over 4.73% of the firm’s shares. Morgan Stanley Investment Managem is the third largest shareholder in SNOW, holding 12,911,506 shares or 3.97% stake. With a 2.61% stake in SNOW, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 8,494,389 shares are owned by the mutual fund manager. The American Funds Growth Fund of Ame, which owns about 1.77% of SNOW stock, is the second-largest Mutual Fund holder. It holds 5,740,876 shares valued at 850.11 million. American Funds AMCAP Fund holds 1.29% of the stake in SNOW, owning 4,190,155 shares worth 620.48 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 30, 2023, SNOW reported revenue of $422.37M and operating income of -$188.77M. The EBITDA in the recently reported quarter was -$178.82M and diluted EPS was -$0.53.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SNOW since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SNOW analysts setting a high price target of $500.00 and a low target of $105.00, the average target price over the next 12 months is $187.46. Based on these targets, SNOW could surge 182.26% to reach the target high and fall by -40.72% to reach the target low. Reaching the average price target will result in a growth of 5.83% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded SNOW stock several times over the past three months with 13 Buys and 19 Sells. In these transactions, 539,914 shares were bought while 343,222 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 47 over the past year. The total number of shares bought during that period was 768,543 while 807,529 shares were sold.

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