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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 $296.55, moving +1.09% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.43%.

Prior to today's trading, shares of the company had lost 10.73% over the past month. This has lagged the Computer and Technology sector's gain of 4.19% and the S&P 500's gain of 3.86% in that time.

Investors will be hoping for strength from SNOW as it approaches its next earnings release.

Investors might also notice recent changes to analyst estimates for SNOW. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNOW is currently sporting a Zacks Rank of #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 24% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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