How to Buy Snowflake Stock
Snowflake Inc
Snowflake is a app company located in California, United States, which is part of the Technology sector, and is traded under the ticker SNOW on the NYSE exchange.
Snowflake stock last closed at $150.30, down 1.11% from the previous day, and has increased 3.47% in one year. It has underperformed other stocks in the Software - Application industry by 0.16 percentage points. Snowflake stock is currently +11.12% from its 52-week low of $135.26, and -36.77% from its 52-week high of $237.72.
At the moment, there are 334.2M SNOW shares outstanding. The market cap of SNOW is $50.23B. In the past 24 hours, 4.52M SNOW shares were traded.
How to Buy Snowflake Stock
Not sure how to invest in Snowflake stock? Here's how.
- Choose where to buy Snowflake stock: You need to pick a stock brokerage, but don't worry - we've tried dozens of online brokerages and apps to help you choose where to buy Snowflake stock.
- Create a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
- Deposit funds into your brokerage account: Pick your method of payment and add your information.
- Analyze Snowflake stock: The Snowflake ticker symbol is SNOW. Is Snowflake stock a good investment? Should you buy shares of SNOW? How do SNOW's underlying business fundamentals look? Do top analysts think Snowflake is a good buy? Why has SNOW's stock price moved recently? (Hint: Our stock research website can help you decide if SNOW is a good stock to buy).
- Make your SNOW purchase: Decide if you will purchase SNOW shares at the current market price or use a limit order to purchase SNOW stock at a specific price.
- Get notifications regarding your investment in SNOW: Create a watchlist to get live updates on your investment in Snowflake stock.
Step 1: Choose where to buy Snowflake stock
You need a brokerage account to access the NYSE market and buy SNOW stock.
Our preferred brokerage: eToro
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Open eToro AccountStep 2: Create a brokerage account
Now that you've picked the right brokerage, it's time to fill out some personal info so you are able to buy SNOW stock today.
How to Create a New Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal details to start your new trading account.
- Send your info by pressing the "Create Account" button. Get started with eToro today
Step 3: Deposit funds into your brokerage account
Now that you have opened your account on app for stock, you need to deposit funds:
Watch the tutorial below if you need help transferring money into your new investment account.
Step 4: Analyze Snowflake stock
After you have selected the best place to buy Snowflake stock, it's important to analyze their stock before you invest, so you truly comprehend the risk as well as the opportunity.
Overview of key SNOW info
SNOW Zen Score
WallStreetZen was created to help part-time investors perform better fundamental analysis in minutes instead of hours.
You can view all of the due diligence checks on SNOW's stock page.
How is SNOW stock valued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge SNOW's fair value.
Using relative valuations measures:
- SNOW may be overvalued based on its P/B ratio of 9.7x, relative to Software - Application industry P/B ratio of 6.48x
You can access more valuation analysis on SNOW's stock here.
SNOW Financials at a glance
Signs that SNOW is financially healthy:
- There are more short-term assets than long-term liabilities on the SNOW balance sheet.
- Total SNOW debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than short-term liabilities on the SNOW balance sheet.
- SNOW's operating cash flow of $848.12M allows it to safely service it's debt of $287.98M.
Signs that SNOW is not financially healthy:
- SNOW has a relatively high debt to equity ratio of 0.59.
- SNOW earnings of -$847.33M is not enough to cover its interest payments.
- SNOW profit margin has gone up by 0.09 percentage points in the past year, but the company is still unprofitable.
Do Wall Street analysts think it's a good time to buy Snowflake stock
Out of 29 Equities analysts who give ratings on SNOW, the consensus analyst rating on SNOW is a Buy
Please note that analyst forecasts are not recommendations, nor are they financial advice.
Latest SNOW Analyst Forecasts
Joe Goodwin, a bottom 6% analyst from JMP Securities maintains SNOW with a buy rating and raises their SNOW price target from $212.00 to $235.00, on Feb 29, 2024.
JMP Securities's Joe Goodwin raised their price target on Snowflake (NYSE: SNOW) by 10.8% from $212 to $235 on 2024/02/29. The analyst maintained their Buy rating on the stock.
Snowflake reported generally better than expected Q4 results and named Sridhar Ramaswamy as its new CEO, with Frank Slootman stepping down but remaining Chairman of the Board, the analyst wrote after the 2024/02/28 release of Snowflake's Q4 and FY 2024 earnings report.
In spite of guidance "notable for its conservatism and significantly below expectations," JMP Securities continues to like the Snowflake story, considering that consumption trends have improved since the beginning of last year and Q4 was an exceptional booking quarter for the company, signaling an improving macro environment, Goodwin added.
Earnings Report
Snowflake Inc. reported:
For Q4 2024:
- EPS of $0.35, which beat the Zacks Consensus Estimate of $0.17 and, by 150%, Q4 2023’s $0.14.
- Revenue of $774.7M, which beat the Zacks Consensus Estimate of $759.88M and, by 31.5%, Q4 2023’s $589.01M.
- Operating income margin of 9%.
For FY 2024:
- EPS of $0.98, which beat FY 2023’s $0.25 by 292%.
- Revenue of $2.81B, which beat FY 2023’s $2.07B by 35.8%.
- Operating income margin of 8%.
Management guided:
For Q1 2025:
- Revenue of $745M to $750M.
- Operating income margin of 3%.
For FY 2025:
- Revenue of $3.25B.
- Operating income margin of 6%.
Chairman Frank Slootman commented: “Snowflake finished FY 2024 with a 38% Y/Y product revenue growth, totaling $2.67B.
“Adjusted free cash flow was $810M, representing 56% Y/Y growth.
“We are successfully campaigning the largest enterprises globally, as more companies and institutions make Snowflake’s Data Cloud the platform of their AI and data strategy.”
Kirk Materne, a top 17% analyst from Evercore ISI Group maintains SNOW with a buy rating and lowers their SNOW price target from $250.00 to $225.00, on Feb 29, 2024.
Brad Reback, a top 10% analyst from Stifel Nicolaus maintains SNOW with a strong buy rating and lowers their SNOW price target from $235.00 to $220.00, on Feb 29, 2024.
Matthew Hedberg, a top 1% analyst from RBC Capital maintains SNOW with a buy rating and lowers their SNOW price target from $255.00 to $246.00, on Feb 29, 2024.
Mark Murphy, a top 9% analyst from JP Morgan maintains SNOW with a strong buy rating and lowers their SNOW price target from $200.00 to $170.00, on Feb 29, 2024.
You can dig deeper into what analysts are projecting on the Snowflake stock forecast page.
SNOW Momentum
SNOW Revenue
Last year, SNOW revenue was $2.81B. During the past five year, SNOW's revenue has increased by 96.15% per year. This was faster than the Software - Application industry average of 27.51%.
Find out more about SNOW's earnings and revenue performance here.
Latest Insiders Trades at SNOW
Over the past year, executives and large shareholders at SNOW have sold more shares than they have bought.
Sridhar Ramaswamy, Chief Executive Officer of SNOW, was the latest SNOW insider to buy. They bought $5,000,037.84 worth of SNOW stock on Mar 25, 2024.
Get more info about who owns SNOW stock here.
Can I get consistent income from SNOW stock?
No, Snowflake doesn't provide an income stream by paying out dividends.
What do other traders have to say about SNOW?
One of the major reasons eToro is our favorite brokerage is because of its social trading community.
Click below to learn what other traders have to say.
Step 5: Make your SNOW purchase
You have two primary order types:
- Market order: A market order is an order to buy or sell a security at the best available price.
Market orders are usually sufficient. - Limit order: A limit order lets you buy or sell a stock at a specific price (or better).
If you want to make sure you're buying or selling at a specific price, place a limit order.
Hit the Open button and your broker will place your order.
If you require additional info about investing in stocks on eToro, watch the how to video below:
Step 6: Get notifications regarding your investment in SNOW
Now that you own some SNOW shares, you'll want to stay up-to-date on your shares.
Put SNOW on a watchlist to track the latest developments regarding your SNOW stock.
SNOW Feed
How to Buy Stock in Snowflake
To reiterate, here are the 6 steps to buy stock in Snowflake:
- Choose where to buy Snowflake stock
- Create a brokerage account
- Deposit funds into your brokerage account
- Analyze Snowflake stock
- Make your SNOW purchase
- Get notifications regarding your investment in SNOW
If you are looking for a place to buy stocks, eToro is our favorite option.
Get Started with eToro TodayIf you would like to monitor your investment in Snowflake, hit the button below to create your watchlist.
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