Snowflake Inc. (NYSE:SNOW) is in the spotlight Wednesday ahead of first-quarter earnings after the market closes.

Snowflake shares are showing limited movement. What should traders watch with SNOW?

Analyst Expectations Heading Into Q1 Report

Analysts expect the company to report earnings per share of 32 cents, up from 24 cents per share in the year-ago period. In addition, the company is anticipated to reported revenue of $1.32 billion, compared to $1.04 billion for the same period last year.

The stock carries a consensus Buy rating with an average price target of $234.07. Notable recent moves include:

Citizens: Market Outperform (Target $325.00) (May 19)

Cantor Fitzgerald: Overweight (Lowered Target from $250.00 to $225.00) (May 26)

Rosenblatt: Buy (Target $275.00) (May 21)

Long-Term Trend Looms Over Short-Term Momentum

Snowflake is trading 15.7% above its 20-day SMA ($153.66) and 16.2% above its ...