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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 $174.02 in the latest trading session, marking a +1.35% move from the prior day. This move outpaced the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 8.36%.
Prior to today's trading, shares of the company had gained 17.7% over the past month. This has outpaced the Computer and Technology sector's gain of 3% and the S&P 500's loss of 0.54% in that time.
Snowflake Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 24, 2023. In that report, analysts expect Snowflake Inc. to post earnings of $0.05 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.58 per share and revenue of $2.87 billion. These totals would mark changes of +132% and +39.08%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 298.63. This valuation marks a premium compared to its industry's average Forward P/E of 40.39.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed at $174.02 in the latest trading session, marking a +1.35% move from the prior day. This move outpaced the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 8.36%.
Prior to today's trading, shares of the company had gained 17.7% over the past month. This has outpaced the Computer and Technology sector's gain of 3% and the S&P 500's loss of 0.54% in that time.
Snowflake Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 24, 2023. In that report, analysts expect Snowflake Inc. to post earnings of $0.05 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.58 per share and revenue of $2.87 billion. These totals would mark changes of +132% and +39.08%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 298.63. This valuation marks a premium compared to its industry's average Forward P/E of 40.39.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.