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Snowflake Inc. (SNOW) Gains As Market Dips: What You Should Know
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Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $150.98, moving +0.71% from the previous trading session. This change outpaced the S&P 500's 0.28% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the company had gained 3.72% over the past month, lagging the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 8.35% in that time.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.02, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $465.64 million, up 71.07% from the prior-year quarter.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.14 per share and revenue of $2.01 billion. These results would represent year-over-year changes of +600% and +65.18%, respectively.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. Snowflake Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 1105.89. This represents a premium compared to its industry's average Forward P/E of 42.17.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 136, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Snowflake Inc. (SNOW) Gains As Market Dips: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $150.98, moving +0.71% from the previous trading session. This change outpaced the S&P 500's 0.28% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the company had gained 3.72% over the past month, lagging the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 8.35% in that time.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.02, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $465.64 million, up 71.07% from the prior-year quarter.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.14 per share and revenue of $2.01 billion. These results would represent year-over-year changes of +600% and +65.18%, respectively.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. Snowflake Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 1105.89. This represents a premium compared to its industry's average Forward P/E of 42.17.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 136, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.