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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 $150.47, moving +1.84% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.06%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the company had lost 20.29% in the past month. In that same time, the Computer and Technology sector lost 1.1%, while the S&P 500 gained 4.94%.
Investors will be hoping for strength from Snowflake Inc. as it approaches its next earnings release, which is expected to be November 30, 2022. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $535.81 million, up 60.21% from the prior-year quarter.
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 should also note any recent changes to analyst estimates for Snowflake Inc.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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 1064.86. Its industry sports an average Forward P/E of 42.59, so we one might conclude that Snowflake Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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 $150.47, moving +1.84% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.06%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the company had lost 20.29% in the past month. In that same time, the Computer and Technology sector lost 1.1%, while the S&P 500 gained 4.94%.
Investors will be hoping for strength from Snowflake Inc. as it approaches its next earnings release, which is expected to be November 30, 2022. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $535.81 million, up 60.21% from the prior-year quarter.
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 should also note any recent changes to analyst estimates for Snowflake Inc.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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 1064.86. Its industry sports an average Forward P/E of 42.59, so we one might conclude that Snowflake Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.