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Snowflake Inc. (SNOW) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $184.21, marking a +1.89% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.39%.
Heading into today, shares of the company had lost 1.84% over the past month, lagging the Computer and Technology sector's gain of 2.41% and the S&P 500's gain of 3.16% 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%. Our most recent consensus estimate is calling for quarterly revenue of $661.75 million, up 33.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.51 per share and revenue of $2.76 billion, which would represent changes of +104% and +33.63%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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 #3 (Hold).
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 352.42. This represents a premium compared to its industry's average Forward P/E of 43.18.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $184.21, marking a +1.89% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.39%.
Heading into today, shares of the company had lost 1.84% over the past month, lagging the Computer and Technology sector's gain of 2.41% and the S&P 500's gain of 3.16% 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%. Our most recent consensus estimate is calling for quarterly revenue of $661.75 million, up 33.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.51 per share and revenue of $2.76 billion, which would represent changes of +104% and +33.63%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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 #3 (Hold).
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 352.42. This represents a premium compared to its industry's average Forward P/E of 43.18.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.