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Snowflake Inc. (SNOW) Stock Moves -1.83%: What You Should Know
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Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $151.26, moving -1.83% from the previous trading session. This change was narrower than the S&P 500's 2% loss on the day. At the same time, the Dow lost 2.06%, and the tech-heavy Nasdaq lost 2.32%.
Prior to today's trading, shares of the company had gained 2.52% over the past month. This has lagged the Computer and Technology sector's gain of 3.51% and the S&P 500's gain of 2.88% in that time.
Snowflake Inc. will be looking to display strength as it nears its next earnings release, which is expected to be March 1, 2023. In that report, analysts expect Snowflake Inc. to post earnings of $0.03 per share. This would mark a year-over-year decline of 75%. Our most recent consensus estimate is calling for quarterly revenue of $570.96 million, up 48.78% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Snowflake Inc. has a Forward P/E ratio of 335.62 right now. This valuation marks a premium compared to its industry's average Forward P/E of 41.74.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 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.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.
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Snowflake Inc. (SNOW) Stock Moves -1.83%: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $151.26, moving -1.83% from the previous trading session. This change was narrower than the S&P 500's 2% loss on the day. At the same time, the Dow lost 2.06%, and the tech-heavy Nasdaq lost 2.32%.
Prior to today's trading, shares of the company had gained 2.52% over the past month. This has lagged the Computer and Technology sector's gain of 3.51% and the S&P 500's gain of 2.88% in that time.
Snowflake Inc. will be looking to display strength as it nears its next earnings release, which is expected to be March 1, 2023. In that report, analysts expect Snowflake Inc. to post earnings of $0.03 per share. This would mark a year-over-year decline of 75%. Our most recent consensus estimate is calling for quarterly revenue of $570.96 million, up 48.78% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Snowflake Inc. has a Forward P/E ratio of 335.62 right now. This valuation marks a premium compared to its industry's average Forward P/E of 41.74.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 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.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.