Snowflake Inc. (SNOW - Free Report) shares rallied 3.7% in the last trading session to close at $277.50. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.4% loss over the past four weeks.
The upswing in Snowflake's share price can be attributed to its expanding clientele driven by a strong partner base. Strong demand for the company's cloud-based data platform that offers ML tools is a positive
This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +113.6%. Revenues are expected to be $371.27 million, up 94.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Snowflake Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SNOW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Snowflake Inc. (SNOW - Free Report) shares rallied 3.7% in the last trading session to close at $277.50. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.4% loss over the past four weeks.
The upswing in Snowflake's share price can be attributed to its expanding clientele driven by a strong partner base. Strong demand for the company's cloud-based data platform that offers ML tools is a positive
This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +113.6%. Revenues are expected to be $371.27 million, up 94.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Snowflake Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SNOW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Get the latest research report on SNOW - FREE