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Snowflake Inc. (SNOW) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $180.79, marking a -1.86% move from the previous day. This change lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Heading into today, shares of the company had lost 3.54% over the past month, lagging the Computer and Technology sector's gain of 3.39% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. On that day, Snowflake Inc. is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $661.75 million, up 33.08% from the year-ago period.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.51 per share and revenue of $2.76 billion. These results would represent year-over-year changes of +104% and +33.63%, respectively.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 359.1. Its industry sports an average Forward P/E of 43.82, 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 group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
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Snowflake Inc. (SNOW) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $180.79, marking a -1.86% move from the previous day. This change lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Heading into today, shares of the company had lost 3.54% over the past month, lagging the Computer and Technology sector's gain of 3.39% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. On that day, Snowflake Inc. is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $661.75 million, up 33.08% from the year-ago period.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.51 per share and revenue of $2.76 billion. These results would represent year-over-year changes of +104% and +33.63%, respectively.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 359.1. Its industry sports an average Forward P/E of 43.82, 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 group has a Zacks Industry Rank of 60, putting it in the top 24% 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.