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Snowflake Inc. (SNOW) Outperforms Broader Market: What You Need to Know
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Snowflake Inc. (SNOW - Free Report) closed the latest trading day at $118.39, indicating a +0.9% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.16%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.78%.
Heading into today, shares of the company had gained 2.15% over the past month, outpacing the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67% 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 20, 2024. In that report, analysts expect Snowflake Inc. to post earnings of $0.15 per share. This would mark a year-over-year decline of 40%. Alongside, our most recent consensus estimate is anticipating revenue of $898.77 million, indicating a 22.42% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.58 per share and a revenue of $3.53 billion, demonstrating changes of -40.82% and +25.78%, respectively, from the preceding 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Snowflake Inc. is currently being traded at a Forward P/E ratio of 201.8. This indicates a premium in contrast to its industry's Forward P/E of 32.31.
It's also important to note that SNOW currently trades at a PEG ratio of 29.74. 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. SNOW's industry had an average PEG ratio of 2.14 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 58, placing it within the top 24% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Snowflake Inc. (SNOW) Outperforms Broader Market: What You Need to Know
Snowflake Inc. (SNOW - Free Report) closed the latest trading day at $118.39, indicating a +0.9% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.16%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.78%.
Heading into today, shares of the company had gained 2.15% over the past month, outpacing the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67% 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 20, 2024. In that report, analysts expect Snowflake Inc. to post earnings of $0.15 per share. This would mark a year-over-year decline of 40%. Alongside, our most recent consensus estimate is anticipating revenue of $898.77 million, indicating a 22.42% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.58 per share and a revenue of $3.53 billion, demonstrating changes of -40.82% and +25.78%, respectively, from the preceding 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Snowflake Inc. is currently being traded at a Forward P/E ratio of 201.8. This indicates a premium in contrast to its industry's Forward P/E of 32.31.
It's also important to note that SNOW currently trades at a PEG ratio of 29.74. 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. SNOW's industry had an average PEG ratio of 2.14 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 58, placing it within the top 24% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.