We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Snowflake Inc. (SNOW - Free Report) closed at $177.10 in the latest trading session, marking a +1.76% move from the prior day. This change lagged the S&P 500's 2.37% gain on the day. At the same time, the Dow added 2.47%, and the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the company had gained 1.31% in the past month. In that same time, the Computer and Technology sector lost 5.85%, while the S&P 500 lost 4.82%.
Snowflake Inc. will be looking to display strength as it nears its next earnings release. On that day, Snowflake Inc. is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 25%. Our most recent consensus estimate is calling for quarterly revenue of $535.81 million, up 60.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.14 per share and revenue of $2.04 billion. These totals would mark changes of +600% and +67.13%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 1254.34. This represents a premium compared to its industry's average Forward P/E of 42.08.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed at $177.10 in the latest trading session, marking a +1.76% move from the prior day. This change lagged the S&P 500's 2.37% gain on the day. At the same time, the Dow added 2.47%, and the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the company had gained 1.31% in the past month. In that same time, the Computer and Technology sector lost 5.85%, while the S&P 500 lost 4.82%.
Snowflake Inc. will be looking to display strength as it nears its next earnings release. On that day, Snowflake Inc. is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 25%. Our most recent consensus estimate is calling for quarterly revenue of $535.81 million, up 60.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.14 per share and revenue of $2.04 billion. These totals would mark changes of +600% and +67.13%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 1254.34. This represents a premium compared to its industry's average Forward P/E of 42.08.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.