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Snowflake Inc. (SNOW) Dips More Than Broader Markets: What You Should Know
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Snowflake Inc. (SNOW - Free Report) closed at $282.56 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's 0.97% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, added 0.23%.
Coming into today, shares of the company had lost 18.92% in the past month. In that same time, the Computer and Technology sector lost 4.93%, while the S&P 500 lost 0.78%.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. On that day, Snowflake Inc. is projected to report earnings of $0.03 per share, which would represent year-over-year growth of 113.64%. Our most recent consensus estimate is calling for quarterly revenue of $371.27 million, up 94.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.08 per share and revenue of $1.21 billion, which would represent changes of +95.6% and +103.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Snowflake Inc. (SNOW) Dips More Than Broader Markets: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed at $282.56 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's 0.97% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, added 0.23%.
Coming into today, shares of the company had lost 18.92% in the past month. In that same time, the Computer and Technology sector lost 4.93%, while the S&P 500 lost 0.78%.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. On that day, Snowflake Inc. is projected to report earnings of $0.03 per share, which would represent year-over-year growth of 113.64%. Our most recent consensus estimate is calling for quarterly revenue of $371.27 million, up 94.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.08 per share and revenue of $1.21 billion, which would represent changes of +95.6% and +103.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.