Snowflake Inc SNOW will report third-quarter earnings on Wednesday. Wall Street expects 15 cents in earnings per share and $896.99 million in revenues as the company reports after market hours.
The stock is down 22.48% over the past year, 31.66% year to date.
Let’s look at what the charts indicate for Snowflake stock and how the stock currently maps against Wall Street estimates.
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Snowflake Technical Setup Ahead Of Q3 Earnings
Snowflake stock is currently in a strongly bullish trend.
Chart created using Benzinga Pro
Snowflake stock is currently trading above its five, 20 and 50-day exponential moving averages, signaling buying pressure and potential for continued upward movement.
The stock price also sits above its eight-day simple moving average (SMA) of $127.70, 20-day SMA of $121.68 and 50-day SMA of $117.83, all reinforcing bullish momentum.
However, the stock is trading below its 200-day SMA of $142.36, presenting a bearish signal in the long term.
The Moving Average Convergence Divergence (MACD) indicator of 3.26 further supports the bullish outlook. Additionally, the Relative Strength Index (RSI) of 61.61 indicates that SNOW is nearing overbought territory but still has room for upward movement.
Snowflake Analysts See 32% Upside
Ratings & Consensus Estimates: The consensus analyst rating on Snowflake stock stands at a Buy currently with a price target of $171.97. Recent analyst ratings from Rosenblatt, Citigroup and Keybanc set a $171 price target for Snowflake stock, implying 31.77% upside.
SNOW Price Action: Snowflake stock was trading around $129.76 a share, down 0.37%, at the time of publication.
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