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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $273.52, marking a +1.65% move from the previous day. This change outpaced the S&P 500's 1.14% gain on the day. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 0.99%.
Coming into today, shares of the company had lost 6.13% in the past month. In that same time, the Computer and Technology sector gained 1.21%, while the S&P 500 gained 1.2%.
SNOW will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2021.
Investors should also note any 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SNOW currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.
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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $273.52, marking a +1.65% move from the previous day. This change outpaced the S&P 500's 1.14% gain on the day. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq gained 0.99%.
Coming into today, shares of the company had lost 6.13% in the past month. In that same time, the Computer and Technology sector gained 1.21%, while the S&P 500 gained 1.2%.
SNOW will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2021.
Investors should also note any 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SNOW currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.