We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why the Market Dipped But Snowflake Inc. (SNOW) Gained Today
Read MoreHide Full Article
The latest trading session saw Snowflake Inc. (SNOW - Free Report) ending at $153.43, denoting a +0.13% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.85%. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 0.96%.
Shares of the company have depreciated by 3.4% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.07% and the S&P 500's loss of 3.02%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.15, up 36.36% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $710.54 million, reflecting a 27.56% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.66 per share and a revenue of $2.75 billion, representing changes of +164% and +32.92%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Snowflake Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Snowflake Inc. is currently exchanging hands at a Forward P/E ratio of 233.8. Its industry sports an average Forward P/E of 37.04, so one might conclude that Snowflake Inc. is trading at a premium comparatively.
One should further note that SNOW currently holds a PEG ratio of 3.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.47.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why the Market Dipped But Snowflake Inc. (SNOW) Gained Today
The latest trading session saw Snowflake Inc. (SNOW - Free Report) ending at $153.43, denoting a +0.13% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.85%. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 0.96%.
Shares of the company have depreciated by 3.4% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.07% and the S&P 500's loss of 3.02%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.15, up 36.36% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $710.54 million, reflecting a 27.56% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.66 per share and a revenue of $2.75 billion, representing changes of +164% and +32.92%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Snowflake Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Snowflake Inc. is currently exchanging hands at a Forward P/E ratio of 233.8. Its industry sports an average Forward P/E of 37.04, so one might conclude that Snowflake Inc. is trading at a premium comparatively.
One should further note that SNOW currently holds a PEG ratio of 3.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.47.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.