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Snowflake (SNOW) to Report Q4 Earnings: What's in the Offing?
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Snowflake (SNOW - Free Report) is slated to release fourth-quarter fiscal 2022 results on Mar 2.
The Zacks Consensus Estimate for the top line is currently pegged at $371.89 million, suggesting growth of 95.25% year over year. The consensus mark for the bottom line has remained unchanged at 3 cents per share over the past 30 days.
Snowflake’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed the same twice, the average earnings surprise being 40.15%.
Factors to Note
Snowflake’s fiscal fourth-quarter results are expected to reflect the ongoing transition from cloud-based repositories and on-premise data centers to the Data Cloud. The company is likely to have gained from the launch of two new industry data clouds — the financial services data cloud and media data cloud — in the to-be-reported quarter.
The financial services data cloud syncs the Snowflake platform with partner solutions and industry data and helps financial services companies to mobilize data and build fintech platforms.
The company’s to-be-reported quarter performance might have benefited from gaining Allianz, BlackRock, Capital One, New York Stock Exchange and Western Union as customers utilizing the financial services data cloud.
The media data cloud enables media and advertising companies to share data and gain insight into customers. A strong customer base using the media data cloud platform, including Xperian, Horizon Media and The Trade Desk, might have contributed to the to-be-reported quarter performance.
Further, collaboration with the Disney (DIS - Free Report) advertising team is likely to have favored Snowflake in the fourth quarter.
Disney has been collaborating with Snowflake to develop their data clean room solution, which helps in creating secure and compliant advertising.
Strong adoption of its cloud-native solutions in media and telecom, technology, financial services and health care may have aided Snowflake’s fiscal fourth-quarter top line and expanded customer base.
At the end of the fiscal third quarter, the company stated that it added 148 new customers, taking the total to 5416 total customers, with a trailing 12-month product revenues of more than $1 million. The figure increased from 116 customers in the previous quarter.
The momentum, however, is expected to have slowed down in the to-be-reported quarter.
What Our Model Unveils
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. However, that is 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 in their upcoming releases:
Bumble (BMBL - Free Report) has an Earnings ESP of +14.29% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. The company is scheduled to release its fourth-quarter 2022 results on Mar 8.
Bumble’s shares have tumbled 64.6% in the past year compared with the Zacks Internet - Software industry’s fall of 49%. The Zacks Computer and Technology Sector witnessed a rise of 0.2%.
Docebo (DCBO - Free Report) has an Earnings ESP of +16.67% and a Zacks Rank #3. The company is slated to release its fourth-quarter 2021 results on Mar 10.
Docebo’s shares have returned 9.3% in the past year against the Zacks Internet - Software industry’s decline of 49%.
Image: Bigstock
Snowflake (SNOW) to Report Q4 Earnings: What's in the Offing?
Snowflake (SNOW - Free Report) is slated to release fourth-quarter fiscal 2022 results on Mar 2.
The Zacks Consensus Estimate for the top line is currently pegged at $371.89 million, suggesting growth of 95.25% year over year. The consensus mark for the bottom line has remained unchanged at 3 cents per share over the past 30 days.
Snowflake’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed the same twice, the average earnings surprise being 40.15%.
Factors to Note
Snowflake’s fiscal fourth-quarter results are expected to reflect the ongoing transition from cloud-based repositories and on-premise data centers to the Data Cloud. The company is likely to have gained from the launch of two new industry data clouds — the financial services data cloud and media data cloud — in the to-be-reported quarter.
The financial services data cloud syncs the Snowflake platform with partner solutions and industry data and helps financial services companies to mobilize data and build fintech platforms.
The company’s to-be-reported quarter performance might have benefited from gaining Allianz, BlackRock, Capital One, New York Stock Exchange and Western Union as customers utilizing the financial services data cloud.
The media data cloud enables media and advertising companies to share data and gain insight into customers. A strong customer base using the media data cloud platform, including Xperian, Horizon Media and The Trade Desk, might have contributed to the to-be-reported quarter performance.
Snowflake Inc. Price and EPS Surprise
Snowflake Inc. price-eps-surprise | Snowflake Inc. Quote
Further, collaboration with the Disney (DIS - Free Report) advertising team is likely to have favored Snowflake in the fourth quarter.
Disney has been collaborating with Snowflake to develop their data clean room solution, which helps in creating secure and compliant advertising.
Strong adoption of its cloud-native solutions in media and telecom, technology, financial services and health care may have aided Snowflake’s fiscal fourth-quarter top line and expanded customer base.
At the end of the fiscal third quarter, the company stated that it added 148 new customers, taking the total to 5416 total customers, with a trailing 12-month product revenues of more than $1 million. The figure increased from 116 customers in the previous quarter.
The momentum, however, is expected to have slowed down in the to-be-reported quarter.
What Our Model Unveils
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. However, that is 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 in their upcoming releases:
Bumble (BMBL - Free Report) has an Earnings ESP of +14.29% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. The company is scheduled to release its fourth-quarter 2022 results on Mar 8.
Bumble’s shares have tumbled 64.6% in the past year compared with the Zacks Internet - Software industry’s fall of 49%. The Zacks Computer and Technology Sector witnessed a rise of 0.2%.
Docebo (DCBO - Free Report) has an Earnings ESP of +16.67% and a Zacks Rank #3. The company is slated to release its fourth-quarter 2021 results on Mar 10.
Docebo’s shares have returned 9.3% in the past year against the Zacks Internet - Software industry’s decline of 49%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.