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Snowflake Inc. (SNOW) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $158.58, marking a -0.62% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.1%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the company had lost 2.18% over the past month, lagging the Computer and Technology sector's gain of 1.55% and the S&P 500's gain of 1.72% in that time.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's earnings report is expected on November 29, 2023. The company is predicted to post an EPS of $0.15, indicating a 36.36% growth compared to the equivalent quarter last year. 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 full year, the Zacks Consensus Estimates project earnings of $0.66 per share and a revenue of $2.75 billion, demonstrating changes of +164% and +32.92%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Snowflake Inc. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 243.48. This denotes a premium relative to the industry's average Forward P/E of 35.05.
We can also see that SNOW currently has a PEG ratio of 3.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.56.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $158.58, marking a -0.62% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.1%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the company had lost 2.18% over the past month, lagging the Computer and Technology sector's gain of 1.55% and the S&P 500's gain of 1.72% in that time.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's earnings report is expected on November 29, 2023. The company is predicted to post an EPS of $0.15, indicating a 36.36% growth compared to the equivalent quarter last year. 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 full year, the Zacks Consensus Estimates project earnings of $0.66 per share and a revenue of $2.75 billion, demonstrating changes of +164% and +32.92%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Snowflake Inc. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 243.48. This denotes a premium relative to the industry's average Forward P/E of 35.05.
We can also see that SNOW currently has a PEG ratio of 3.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.56.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.