Back to top

Image: Bigstock

Snowflake (SNOW) to Report Q4 Earnings: What's in the Cards?

Read MoreHide Full Article

Snowflake (SNOW - Free Report) is set to release fourth-quarter fiscal 2021 results on Mar 3.

Markedly, this would be the company’s second earnings call. This Data Cloud platform provider began trading on Nasdaq from Sep 16, 2020.

The Zacks Consensus Estimate for the top line is currently pegged at $178.9 million. Moreover, the consensus mark for loss has been unchanged at 18 cents per share over the past 30 days.

Snowflake’s fourth-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 the data warehousing market and an expanding enterprise customer base are expected to have driven top-line growth.

At the end of the third quarter, the company had 3,554 customers, increasing from 1,934 customers at the end of the year-ago quarter. Moreover, the number of Fortune 500 companies jumped 56% year over year to 165. Further, retention rate had improved sequentially 400 basis points to 162% in the third quarter. 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:

Gogo (GOGO - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

fubo TV (FUBO - Free Report) has an Earnings ESP of +41.88% and is #3 Ranked.

Vail Resorts (MTN - Free Report) has an Earnings ESP of +12.44% and a Zacks Rank #3.

+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities

In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.

Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.

Click here to download this report FREE >>


Go Deeper With Exclusive Zacks Research


Normally $25 each - click below to receive one report FREE:


Vail Resorts, Inc. (MTN) - free report >>

Gogo Inc. (GOGO) - free report >>

Snowflake Inc. (SNOW) - free report >>

fuboTV Inc. (FUBO) - free report >>