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Snowflake Inc. (SNOW) Ascends But Remains Behind Market: Some Facts to Note
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Snowflake Inc. (SNOW - Free Report) closed at $163.54 in the latest trading session, marking a +0.25% move from the prior day. This change lagged the S&P 500's 0.43% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.71%.
Heading into today, shares of the company had lost 2.22% over the past month, lagging the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1% in that time.
The investment community will be paying close attention to the earnings performance of Snowflake Inc. in its upcoming release. The company is expected to report EPS of $0.15, up 36.36% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $710.54 million, indicating a 27.56% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.65 per share and revenue of $2.75 billion, which would represent changes of +160% and +32.92%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain 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 250.33. This signifies a premium in comparison to the average Forward P/E of 38 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Snowflake Inc. (SNOW) Ascends But Remains Behind Market: Some Facts to Note
Snowflake Inc. (SNOW - Free Report) closed at $163.54 in the latest trading session, marking a +0.25% move from the prior day. This change lagged the S&P 500's 0.43% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.71%.
Heading into today, shares of the company had lost 2.22% over the past month, lagging the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1% in that time.
The investment community will be paying close attention to the earnings performance of Snowflake Inc. in its upcoming release. The company is expected to report EPS of $0.15, up 36.36% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $710.54 million, indicating a 27.56% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.65 per share and revenue of $2.75 billion, which would represent changes of +160% and +32.92%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain 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 250.33. This signifies a premium in comparison to the average Forward P/E of 38 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.