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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 at $370.73 in the latest trading session, marking a +1.63% move from the prior day. This change outpaced the S&P 500's 0.09% gain on the day.
Heading into today, shares of the company had gained 16.36% over the past month, outpacing the Computer and Technology sector's gain of 9.47% and the S&P 500's gain of 8.19% in that time.
Wall Street will be looking for positivity from SNOW as it approaches its next earnings report date. This is expected to be December 1, 2021. On that day, SNOW is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 78.57%. Our most recent consensus estimate is calling for quarterly revenue of $303.96 million, up 90.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.27 per share and revenue of $1.14 billion, which would represent changes of +85.16% and +93.03%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SNOW. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently sporting 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 170, which puts it in the bottom 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed at $370.73 in the latest trading session, marking a +1.63% move from the prior day. This change outpaced the S&P 500's 0.09% gain on the day.
Heading into today, shares of the company had gained 16.36% over the past month, outpacing the Computer and Technology sector's gain of 9.47% and the S&P 500's gain of 8.19% in that time.
Wall Street will be looking for positivity from SNOW as it approaches its next earnings report date. This is expected to be December 1, 2021. On that day, SNOW is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 78.57%. Our most recent consensus estimate is calling for quarterly revenue of $303.96 million, up 90.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.27 per share and revenue of $1.14 billion, which would represent changes of +85.16% and +93.03%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SNOW. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently sporting 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 170, which puts it in the bottom 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.