Now Is A Good Time To Buy Snowflake Inc (NYSE: SNOW)

During the last session, Snowflake Inc (NYSE:SNOW)’s traded shares were 6.21 million, with the beta value of the company hitting 0.91. At the end of the trading day, the stock’s price was $151.34, reflecting an intraday loss of -1.10% or -$1.68. The 52-week high for the SNOW share is $237.72, that puts it down -57.08 from that peak though still a striking 10.63% gain since the share price plummeted to a 52-week low of $135.26. The company’s market capitalization is $50.58B, and the average intraday trading volume over the past 10 days was 6.07 million shares, and the average trade volume was 7.13 million shares over the past three months.

Snowflake Inc (NYSE:SNOW) trade information

Snowflake Inc (SNOW) registered a -1.10% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.10% in intraday trading to $151.34, hitting a weekly high. The stock’s 5-day price performance is -5.44%, and it has moved by -9.78% in 30 days. Based on these gigs, the overall price performance for the year is 0.89%. The short interest in Snowflake Inc (NYSE:SNOW) is 8.69 million shares and it means that shorts have 0.86 day(s) to cover.

Snowflake Inc (SNOW) estimates and forecasts

Statistics show that Snowflake Inc has underperformed its competitors in share price, compared to the industry in which it operates. Snowflake Inc (SNOW) shares have gone up 1.71% during the last six months, with a year-to-date growth rate less than the industry average at -13.27% against 20.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 20.00% this quarter and then drop -4.50% in the quarter after that. In the rating firms’ projections, revenue will increase 22.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $786.3 million as predicted by 31 analyst(s). Meanwhile, a consensus of 31 analyst(s) estimates revenue growth to $825.88 million by the end of Jul 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -31.70%. While earnings are projected to return -4.05% in 2024, the next five years will return 18.05% per annum.

SNOW Dividends

Snowflake Inc is due to release its next quarterly earnings between May 22 and May 27. 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 6.60% of total outstanding shares while institutional holders control 64.59%, with the float percentage being 69.16%. Vanguard Group Inc is the largest shareholder of the company, while 1,483 institutions own stock in it. As of Jun 29, 2023, the company held over 18.69 million shares (or 5.67% of all shares), a total value of $3.29 billion in shares.

The next largest institutional holding, with 15.37 million shares, is of Altimeter Capital Management, LP’s that is approximately 4.66% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $2.7 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Snowflake Inc (SNOW) shares are Vanguard Total Stock Market Index Fund and Growth Fund Of America Inc. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 8.62 million shares. This amounts to just over 2.61 percent of the company’s overall shares, with a $1.52 billion market value. The same data shows that the other fund manager holds slightly less at 4.58 million, or about 1.39% of the stock, which is worth about $805.85 million.