Snowflake Inc. (SNOW - Free Report) shares soared 10.7% in the last trading session to close at $159.57. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.9% loss over the past four weeks.
The upswing in share price can be attributed to Snowflake's expanding clientele.
This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +36.4%. Revenues are expected to be $710.54 million, up 27.6% 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Snowflake Inc. is part of the Zacks Internet - Software industry. Hello Group Inc. Sponsored ADR (MOMO - Free Report) , another stock in the same industry, closed the last trading session 1.8% lower at $7.04. MOMO has returned -1.5% in the past month.
For Hello Group Inc. Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.42. This represents a change of +13.5% from what the company reported a year ago. Hello Group Inc. Sponsored ADR currently has a Zacks Rank of #3 (Hold).
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Snowflake Inc. (SNOW - Free Report) shares soared 10.7% in the last trading session to close at $159.57. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.9% loss over the past four weeks.
The upswing in share price can be attributed to Snowflake's expanding clientele.
This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +36.4%. Revenues are expected to be $710.54 million, up 27.6% 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Snowflake Inc. is part of the Zacks Internet - Software industry. Hello Group Inc. Sponsored ADR (MOMO - Free Report) , another stock in the same industry, closed the last trading session 1.8% lower at $7.04. MOMO has returned -1.5% in the past month.
For Hello Group Inc. Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.42. This represents a change of +13.5% from what the company reported a year ago. Hello Group Inc. Sponsored ADR currently has a Zacks Rank of #3 (Hold).
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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