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Snowflake (SNOW) to Report Q3 Earnings: What's in the Cards?
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Snowflake (SNOW - Free Report) is set to release third-quarter fiscal 2021 results on Dec 2.
Markedly, this would be the company’s first earnings call. This Data Cloud platform provider began trading on Nasdaq from Sep 16.
The Zacks Consensus Estimate for the top line is currently pegged at $146.9 million. Moreover, the consensus mark for loss has been unchanged at 27 cents per share over the past 30 days.
Snowflake’s third-quarter fiscal 2021 results are expected to have benefited from ongoing transition from cloud-based repositories and on-premises data centers to the Data Cloud.
The company’s to-be-reported quarter’s results are expected to have benefited from strong adoption of its Data Cloud platform. Moreover, growing exposure to data warehousing market and an expanding enterprise customer base are expected to have driven top-line growth.
As Jul 31, 2020, the company had 3,117 customers, increasing from 1,547 customers as of Jul 31, 2019. Moreover, customers included seven of the Fortune 10 and 146 of the Fortune 500. The momentum is expected to have continued in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Snowflake has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Signet Jewelers (SIG - Free Report) has an Earnings ESP of +13.95% and is #2 Ranked.
Cracker Barrel Old Country (CBRL - Free Report) has an Earnings ESP of +2.73% and a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Shutterstock
Snowflake (SNOW) to Report Q3 Earnings: What's in the Cards?
Snowflake (SNOW - Free Report) is set to release third-quarter fiscal 2021 results on Dec 2.
Markedly, this would be the company’s first earnings call. This Data Cloud platform provider began trading on Nasdaq from Sep 16.
The Zacks Consensus Estimate for the top line is currently pegged at $146.9 million. Moreover, the consensus mark for loss has been unchanged at 27 cents per share over the past 30 days.
Snowflake’s third-quarter fiscal 2021 results are expected to have benefited from ongoing transition from cloud-based repositories and on-premises data centers to the Data Cloud.
The company’s to-be-reported quarter’s results are expected to have benefited from strong adoption of its Data Cloud platform. Moreover, growing exposure to data warehousing market and an expanding enterprise customer base are expected to have driven top-line growth.
Snowflake Inc. Price
Snowflake Inc. price | Snowflake Inc. Quote
As Jul 31, 2020, the company had 3,117 customers, increasing from 1,547 customers as of Jul 31, 2019. Moreover, customers included seven of the Fortune 10 and 146 of the Fortune 500. The momentum is expected to have continued in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Snowflake has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
The Kroger (KR - Free Report) has an Earnings ESP of +0.38% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Signet Jewelers (SIG - Free Report) has an Earnings ESP of +13.95% and is #2 Ranked.
Cracker Barrel Old Country (CBRL - Free Report) has an Earnings ESP of +2.73% and a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>