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Snowflake Inc. (SNOW) Beats Stock Market Upswing: What Investors Need to Know
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Snowflake Inc. (SNOW - Free Report) closed at $161.60 in the latest trading session, marking a +0.97% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.12%.
The the stock of company has fallen by 30.42% in the past month, lagging the Computer and Technology sector's gain of 3.59% and the S&P 500's gain of 3.55%.
The investment community will be paying close attention to the earnings performance of Snowflake Inc. in its upcoming release. The company is forecasted to report an EPS of $0.16, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $786.98 million, indicating a 26.2% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.85 per share and a revenue of $3.38 billion, indicating changes of -13.27% and +20.29%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snowflake Inc. Such recent modifications usually signify the changing landscape of 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 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.82% fall in the Zacks Consensus EPS estimate. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 188.28. This indicates a premium in contrast to its industry's Forward P/E of 30.41.
We can also see that SNOW currently has a PEG ratio of 11.01. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry had an average PEG ratio of 1.84 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 38, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Snowflake Inc. (SNOW) Beats Stock Market Upswing: What Investors Need to Know
Snowflake Inc. (SNOW - Free Report) closed at $161.60 in the latest trading session, marking a +0.97% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.12%.
The the stock of company has fallen by 30.42% in the past month, lagging the Computer and Technology sector's gain of 3.59% and the S&P 500's gain of 3.55%.
The investment community will be paying close attention to the earnings performance of Snowflake Inc. in its upcoming release. The company is forecasted to report an EPS of $0.16, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $786.98 million, indicating a 26.2% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.85 per share and a revenue of $3.38 billion, indicating changes of -13.27% and +20.29%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snowflake Inc. Such recent modifications usually signify the changing landscape of 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 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.82% fall in the Zacks Consensus EPS estimate. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Snowflake Inc. currently has a Forward P/E ratio of 188.28. This indicates a premium in contrast to its industry's Forward P/E of 30.41.
We can also see that SNOW currently has a PEG ratio of 11.01. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry had an average PEG ratio of 1.84 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 38, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.