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Snowflake Inc. (SNOW) Stock Moves -1.1%: What You Should Know

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In the latest market close, Snowflake Inc. (SNOW - Free Report) reached $151.34, with a -1.1% movement compared to the previous day. This change was narrower than the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.36%, and the tech-heavy Nasdaq lost 1.4%.

The company's shares have seen a decrease of 8.37% over the last month, not keeping up with the Computer and Technology sector's gain of 2.32% and the S&P 500's gain of 1.61%.

The upcoming earnings release of Snowflake Inc. will be of great interest to investors. 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. Meanwhile, our latest consensus estimate is calling for revenue of $786.98 million, up 26.2% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.85 per share and revenue of $3.38 billion, indicating changes of -13.27% and +20.29%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Snowflake Inc. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate 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 180.02. This expresses a premium compared to the average Forward P/E of 28.87 of its industry.

One should further note that SNOW currently holds a PEG ratio of 10.53. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.85.

The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 35, positioning it in the top 14% of all 250+ industries.

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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.


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