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Snowflake Inc. (SNOW) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, Snowflake Inc. (SNOW - Free Report) reached $114.82, with a +1.94% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 1.04%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 1.03%.
The company's stock has dropped by 20.44% in the past month, falling short of the Computer and Technology sector's loss of 13.91% and the S&P 500's loss of 6.74%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 21, 2024. The company is predicted to post an EPS of $0.16, indicating a 27.27% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $848.15 million, up 25.83% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.60 per share and revenue of $3.47 billion, indicating changes of -38.78% and +23.75%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.16% rise in the Zacks Consensus EPS estimate. As of now, Snowflake Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is presently being traded at a Forward P/E ratio of 187.72. Its industry sports an average Forward P/E of 30.01, so one might conclude that Snowflake Inc. is trading at a premium comparatively.
Meanwhile, SNOW's PEG ratio is currently 28.92. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software was holding an average PEG ratio of 1.64 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Snowflake Inc. (SNOW - Free Report) reached $114.82, with a +1.94% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 1.04%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 1.03%.
The company's stock has dropped by 20.44% in the past month, falling short of the Computer and Technology sector's loss of 13.91% and the S&P 500's loss of 6.74%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 21, 2024. The company is predicted to post an EPS of $0.16, indicating a 27.27% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $848.15 million, up 25.83% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.60 per share and revenue of $3.47 billion, indicating changes of -38.78% and +23.75%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.16% rise in the Zacks Consensus EPS estimate. As of now, Snowflake Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is presently being traded at a Forward P/E ratio of 187.72. Its industry sports an average Forward P/E of 30.01, so one might conclude that Snowflake Inc. is trading at a premium comparatively.
Meanwhile, SNOW's PEG ratio is currently 28.92. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software was holding an average PEG ratio of 1.64 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.