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Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know
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Snowflake Inc. (SNOW - Free Report) closed at $334.13 in the latest trading session, marking a -1.65% move from the prior day. This change lagged the S&P 500's 0.37% gain on the day.
Prior to today's trading, shares of the company had gained 8.1% over the past month. This has outpaced the Computer and Technology sector's gain of 0.04% and the S&P 500's gain of 2.13% in that time.
Wall Street will be looking for positivity from SNOW as it approaches its next earnings report date. On that day, SNOW is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 78.57%. Meanwhile, our latest consensus estimate is calling for revenue of $303.96 million, up 90.43% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.27 per share and revenue of $1.14 billion. These totals would mark changes of +85.16% and +93.03%, respectively, from last year.
Any recent changes to analyst estimates for SNOW should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNOW is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed at $334.13 in the latest trading session, marking a -1.65% move from the prior day. This change lagged the S&P 500's 0.37% gain on the day.
Prior to today's trading, shares of the company had gained 8.1% over the past month. This has outpaced the Computer and Technology sector's gain of 0.04% and the S&P 500's gain of 2.13% in that time.
Wall Street will be looking for positivity from SNOW as it approaches its next earnings report date. On that day, SNOW is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 78.57%. Meanwhile, our latest consensus estimate is calling for revenue of $303.96 million, up 90.43% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.27 per share and revenue of $1.14 billion. These totals would mark changes of +85.16% and +93.03%, respectively, from last year.
Any recent changes to analyst estimates for SNOW should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNOW is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.