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Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know

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Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $237.24, moving +0.21% from the previous trading session. This change lagged the S&P 500's 0.75% gain on the day.

Coming into today, shares of the company had lost 0.7% in the past month. In that same time, the Computer and Technology sector gained 6.19%, while the S&P 500 gained 2.91%.

Wall Street will be looking for positivity from SNOW as it approaches its next earnings report date.

SNOW's full-year Zacks Consensus Estimates are calling for earnings of -$0.57 per share and revenue of $1.11 billion. These results would represent year-over-year changes of +68.68% and +87.67%, respectively.

Investors might also notice recent changes to analyst estimates for SNOW. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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.

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 is currently a Zacks Rank #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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