Can Snowflake Stock Manage Another Post-Earnings Pop?

Core Viewpoint - The market is anticipating Snowflake Inc's quarterly earnings report, with the stock showing positive movement ahead of the announcement, indicating investor optimism despite a historically poor post-earnings performance [1][2]. Company Performance - Snowflake's stock is currently up 1.7% at $167.15, aiming to end a five-day losing streak, having bounced off a support level at$160, which previously saw a post-earnings bull gap of 32.7% in November [1]. - The stock remains 8.1% higher in 2025, reflecting a positive long-term outlook [1]. Historical Context - Over the past two years, Snowflake has had a disappointing record of post-earnings performance, with only two instances of gains in the next-day sessions, both occurring in November [2]. - Options traders are anticipating an 18.7% price movement for the stock following the earnings report, which is larger than the average 14% movement observed over the last eight quarters [2]. Analyst Sentiment - Analysts are showing optimism leading up to the earnings report, with multiple price-target hikes in the last two weeks and upgrades to "buy" from Wolfe Research and BTIG [3]. - Out of 42 analysts covering Snowflake, 34 have a "buy" or better rating, indicating strong confidence in the stock [3]. Options Activity - Call trading activity is robust, with a 50-day call/put volume ratio of 3.29, ranking in the 98th percentile of its annual range, and a 10-day call/put volume ratio of 3.61, ranking in the 85th percentile [4].