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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
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Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $142.14, moving +1.74% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 8.98%.
Prior to today's trading, shares of the company had lost 6.36% over the past month. This has lagged the Computer and Technology sector's loss of 0.17% and the S&P 500's gain of 1% in that time.
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 75%. Meanwhile, our latest consensus estimate is calling for revenue of $570.96 million, up 48.78% from the prior-year quarter.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.22 per share and revenue of $2.04 billion. These results would represent year-over-year changes of +1000% and +67.45%, respectively.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.72% higher. Snowflake Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 622.47. This valuation marks a premium compared to its industry's average Forward P/E of 41.39.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $142.14, moving +1.74% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 8.98%.
Prior to today's trading, shares of the company had lost 6.36% over the past month. This has lagged the Computer and Technology sector's loss of 0.17% and the S&P 500's gain of 1% in that time.
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 75%. Meanwhile, our latest consensus estimate is calling for revenue of $570.96 million, up 48.78% from the prior-year quarter.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.22 per share and revenue of $2.04 billion. These results would represent year-over-year changes of +1000% and +67.45%, respectively.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.72% higher. Snowflake Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 622.47. This valuation marks a premium compared to its industry's average Forward P/E of 41.39.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.