Snowflake logged a -1.3% change during today's morning session, and is now trading at a price of $231.1 per share.
Snowflake returned gains of 51.5% last year, with its stock price reaching a high of $237.72 and a low of $128.56. Over the same period, the stock outperformed the S&P 500 index by 23.0%. More recently, the company's 50-day average price was $206.54. Snowflake Inc. provides a cloud-based data platform for various organizations in the United States and internationally. Based in Bozeman, MT, the Large-Cap Technology company has 6,783 full time employees. Snowflake has not offered a dividend during the last year.
Strong Revenue Growth but Similar Gross Margins to the Industry Average of 70.92%:
| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Revenue (M) | $592 | $1,219 | $2,066 |
| Gross Margins | 59% | 62% | 65% |
| Net Margins | -91% | -56% | 4% |
| Net Income (M) | -$539 | -$680 | $74 |
| Net Interest Expense (M) | $8 | $9 | n/a |
| Depreciation & Amort. (M) | $10 | $21 | $64 |
| Diluted Shares (M) | 303 | 320 | 329 |
| Earnings Per Share | -$3.81 | -$2.26 | -$2.5 |
| EPS Growth | n/a | 40.68% | -10.62% |
| CAPEX (M) | $35 | $16 | $25 |
Snowflake has rapidly growing revenues and a flat capital expenditure trend, an excellent current ratio of 2.12, and a strong EPS growth trend. Furthermore, Snowflake has similar gross margins to its peers.
Snowflake does not have a meaningful trailing P/E ratio since its earnings per share are currently in the red. Based on its EPS guidance of $1.14, the company has a forward P/E ratio of 181.2. In comparison, the average P/E ratio for the Technology sector is 35.0. Furthermore, Snowflake is likely overvalued compared to the book value of its equity, since its P/B ratio of 15.43 is higher than the sector average of 7.92.
Snowflake Has an Average Rating of Buy:
The 39 analysts following Snowflake have set target prices ranging from $120.0 to $600.0 per share, for an average of $232.85 with a buy rating. The company is trading -0.8% away from its average target price, indicating that there is an analyst consensus of some upside potential.
Snowflake has an average amount of shares sold short because 3.3% of the company's shares are sold short. Institutions own 65.9% of the company's shares, and the insider ownership rate stands at 6.54%, suggesting a large amount of insider shareholders. The largest shareholder is Vanguard Group Inc, whose 6% stake in the company is worth $4,850,493,320.
