Snowflake Inc (NYSE: SNOW)’s Stock Performance and Outlook

In the latest trading session, 1.73 million Snowflake Inc (NYSE:SNOW) shares changed hands as the company’s beta touched 1.01. With the company’s most recent per share price at $227.86 changed hands at -$4.3 or -1.85% at last look, the market valuation stands at $75.03B. SNOW’s current price is a discount, trading about -4.33% off its 52-week high of $237.72. The share price had its 52-week low at $128.56, which suggests the last value was 43.58% up since then. When we look at Snowflake Inc’s average trading volume, we note the 10-day average is 6.03 million shares, with the 3-month average coming to 1.80.

Snowflake Inc (NYSE:SNOW) trade information

Instantly SNOW was in red as seen in intraday trades today. With action 6.64%, the performance over the past five days has been green. The drop to weekly highs of 237.72 subtracted -1.85% to the stock’s daily price. The company’s shares are showing year-to-date upside of 14.50%, with the 5-day performance at 6.64% in the green. However, in the 30-day time frame, Snowflake Inc (NYSE:SNOW) is 19.14% up. Looking at the short shares, we see there were 10.9 million shares sold at short interest cover period of 2.14 days.

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Snowflake Inc (SNOW) estimates and forecasts

Data shows that the Snowflake Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 49.06% over the past 6 months, a 216.00% in annual growth rate that is considerably higher than the industry average of 22.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Snowflake Inc will rise 28.60%, while the growth in revenue is estimated to hit 40.00% for the next quarter. Year-over-year growth is forecast to reach 35.20% up from the last financial year.

Consensus estimates given by 33 financial analysts project the company’s revenue in the current quarter to hit an average of $759.1 million. 29 analysts are of the opinion that Snowflake Inc’s revenue for the quarter ending Apr 2024 will be $805.76 million. The company’s revenue for the corresponding quarters a year ago was $589.01 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 28.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -40.39%. The 2024 estimates are for Snowflake Inc earnings to increase by 218.17%.

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