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Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know
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The most recent trading session ended with Snowflake Inc. (SNOW - Free Report) standing at $163.03, reflecting a -1.71% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.07%.
Coming into today, shares of the company had gained 4.06% in the past month. In that same time, the Computer and Technology sector gained 5.61%, while the S&P 500 gained 4.02%.
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's earnings per share (EPS) are projected to be $0.16, reflecting a 45.45% increase from the same quarter last year. 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.66 per share and a revenue of $2.75 billion, indicating changes of +164% and +32.92%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snowflake Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Snowflake Inc. is currently a Zacks Rank #2 (Buy).
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 253.07. This signifies a premium in comparison to the average Forward P/E of 35.19 for its industry.
Also, we should mention that SNOW has a PEG ratio of 3.91. 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 1.52.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know
The most recent trading session ended with Snowflake Inc. (SNOW - Free Report) standing at $163.03, reflecting a -1.71% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.07%.
Coming into today, shares of the company had gained 4.06% in the past month. In that same time, the Computer and Technology sector gained 5.61%, while the S&P 500 gained 4.02%.
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's earnings per share (EPS) are projected to be $0.16, reflecting a 45.45% increase from the same quarter last year. 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.66 per share and a revenue of $2.75 billion, indicating changes of +164% and +32.92%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snowflake Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Snowflake Inc. is currently a Zacks Rank #2 (Buy).
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 253.07. This signifies a premium in comparison to the average Forward P/E of 35.19 for its industry.
Also, we should mention that SNOW has a PEG ratio of 3.91. 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 1.52.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.