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Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $293.51, marking a +0.11% move from the previous day. This change lagged the S&P 500's 0.84% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the company had lost 3.15% in the past month. In that same time, the Computer and Technology sector lost 5.35%, while the S&P 500 lost 4.03%.
Investors will be hoping for strength from Snowflake Inc. as it approaches its next earnings release, which is expected to be March 2, 2022. In that report, analysts expect Snowflake Inc. to post earnings of $0.03 per share. This would mark year-over-year growth of 113.64%. Meanwhile, our latest consensus estimate is calling for revenue of $371.27 million, up 94.92% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Snowflake Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 4978.7. This represents a premium compared to its industry's average Forward P/E of 50.73.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 38% 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.
View the Zacks #1 Rank List
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Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $293.51, marking a +0.11% move from the previous day. This change lagged the S&P 500's 0.84% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the company had lost 3.15% in the past month. In that same time, the Computer and Technology sector lost 5.35%, while the S&P 500 lost 4.03%.
Investors will be hoping for strength from Snowflake Inc. as it approaches its next earnings release, which is expected to be March 2, 2022. In that report, analysts expect Snowflake Inc. to post earnings of $0.03 per share. This would mark year-over-year growth of 113.64%. Meanwhile, our latest consensus estimate is calling for revenue of $371.27 million, up 94.92% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Snowflake Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 4978.7. This represents a premium compared to its industry's average Forward P/E of 50.73.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 38% 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.