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Snowflake Inc. (SNOW) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest market close, Snowflake Inc. (SNOW - Free Report) reached $157.16, with a -1.75% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Shares of the company witnessed a loss of 1.85% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.1% and outperforming the S&P 500's loss of 2.4%.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's upcoming EPS is projected at $0.15, signifying a 36.36% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $710.54 million, indicating a 27.56% upward movement from the same quarter last year.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.65 per share and revenue of $2.75 billion. These results would represent year-over-year changes of +160% and +32.92%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Snowflake Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is presently being traded at a Forward P/E ratio of 245.46. For comparison, its industry has an average Forward P/E of 37.05, which means Snowflake Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Snowflake Inc. (SNOW) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest market close, Snowflake Inc. (SNOW - Free Report) reached $157.16, with a -1.75% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Shares of the company witnessed a loss of 1.85% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.1% and outperforming the S&P 500's loss of 2.4%.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's upcoming EPS is projected at $0.15, signifying a 36.36% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $710.54 million, indicating a 27.56% upward movement from the same quarter last year.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.65 per share and revenue of $2.75 billion. These results would represent year-over-year changes of +160% and +32.92%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Snowflake Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is presently being traded at a Forward P/E ratio of 245.46. For comparison, its industry has an average Forward P/E of 37.05, which means Snowflake Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.