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Snowflake Inc. (SNOW) Laps the Stock Market: Here's Why
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In the latest market close, Snowflake Inc. (SNOW - Free Report) reached $129.57, with a +0.44% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
The company's shares have seen a decrease of 4.51% over the last month, surpassing the Computer and Technology sector's loss of 4.62% and falling behind the S&P 500's loss of 0.21%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. The company is predicted to post an EPS of $0.16, indicating a 27.27% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $848.15 million, indicating a 25.83% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.60 per share and a revenue of $3.47 billion, signifying shifts of -38.78% and +23.75%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Snowflake Inc. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% increase. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 215. This represents a premium compared to its industry's average Forward P/E of 31.36.
Also, we should mention that SNOW has a PEG ratio of 33.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 1.8 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Snowflake Inc. (SNOW) Laps the Stock Market: Here's Why
In the latest market close, Snowflake Inc. (SNOW - Free Report) reached $129.57, with a +0.44% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
The company's shares have seen a decrease of 4.51% over the last month, surpassing the Computer and Technology sector's loss of 4.62% and falling behind the S&P 500's loss of 0.21%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. The company is predicted to post an EPS of $0.16, indicating a 27.27% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $848.15 million, indicating a 25.83% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.60 per share and a revenue of $3.47 billion, signifying shifts of -38.78% and +23.75%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Snowflake Inc. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% increase. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 215. This represents a premium compared to its industry's average Forward P/E of 31.36.
Also, we should mention that SNOW has a PEG ratio of 33.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 1.8 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.