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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $161.75, marking a +0.29% move from the previous day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the company had gained 2.8% over the past month, lagging the Computer and Technology sector's gain of 11.35% and the S&P 500's gain of 10.76% in that time.
Snowflake Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 24, 2022. On that day, Snowflake Inc. is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $465.64 million, up 71.07% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.13 per share and revenue of $2.01 billion, which would represent changes of +550% and +65.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% lower. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 1199.68. This represents a premium compared to its industry's average Forward P/E of 45.92.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 135, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.
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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $161.75, marking a +0.29% move from the previous day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the company had gained 2.8% over the past month, lagging the Computer and Technology sector's gain of 11.35% and the S&P 500's gain of 10.76% in that time.
Snowflake Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 24, 2022. On that day, Snowflake Inc. is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $465.64 million, up 71.07% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.13 per share and revenue of $2.01 billion, which would represent changes of +550% and +65.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% lower. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 1199.68. This represents a premium compared to its industry's average Forward P/E of 45.92.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 135, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.