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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 $148.77, marking a +1.16% move from the previous day. The stock lagged the S&P 500's daily gain of 1.96%. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Heading into today, shares of the company had gained 6.98% over the past month, outpacing the Computer and Technology sector's loss of 0.91% and the S&P 500's gain of 2.19% in that time.
Investors will be hoping for strength from Snowflake Inc. as it approaches its next earnings release. On that day, Snowflake Inc. is projected to report earnings of $0.05 per share, which would represent year-over-year growth of 400%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $607.47 million, up 43.82% from the year-ago period.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.58 per share and revenue of $2.87 billion. These results would represent year-over-year changes of +132% and +39.08%, respectively.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.These revisions help to show the ever-changing nature of near-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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 255.76. Its industry sports an average Forward P/E of 39.49, so we one might conclude that Snowflake Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $148.77, marking a +1.16% move from the previous day. The stock lagged the S&P 500's daily gain of 1.96%. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Heading into today, shares of the company had gained 6.98% over the past month, outpacing the Computer and Technology sector's loss of 0.91% and the S&P 500's gain of 2.19% in that time.
Investors will be hoping for strength from Snowflake Inc. as it approaches its next earnings release. On that day, Snowflake Inc. is projected to report earnings of $0.05 per share, which would represent year-over-year growth of 400%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $607.47 million, up 43.82% from the year-ago period.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.58 per share and revenue of $2.87 billion. These results would represent year-over-year changes of +132% and +39.08%, respectively.
Investors might also notice recent changes to analyst estimates for Snowflake Inc.These revisions help to show the ever-changing nature of near-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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 255.76. Its industry sports an average Forward P/E of 39.49, so we one might conclude that Snowflake Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.