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Snowflake Inc. (SNOW) Falls More Steeply Than Broader Market: What Investors Need to Know
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The latest trading session saw Snowflake Inc. (SNOW - Free Report) ending at $113.74, denoting a -1.52% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.33%.
Shares of the company witnessed a gain of 0.67% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 2.1% and outperforming the S&P 500's gain of 0.41%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. The company plans to announce its earnings 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%. Our most recent consensus estimate is calling for quarterly revenue of $898.77 million, up 22.42% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.58 per share and a revenue of $3.53 billion, representing changes of -40.82% and +25.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Snowflake Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Snowflake Inc. possesses a Zacks Rank of #3 (Hold).
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 198.63. This signifies a premium in comparison to the average Forward P/E of 31.17 for its industry.
It is also worth noting that SNOW currently has a PEG ratio of 29.28. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 2.3 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 34% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Snowflake Inc. (SNOW) Falls More Steeply Than Broader Market: What Investors Need to Know
The latest trading session saw Snowflake Inc. (SNOW - Free Report) ending at $113.74, denoting a -1.52% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.33%.
Shares of the company witnessed a gain of 0.67% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 2.1% and outperforming the S&P 500's gain of 0.41%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. The company plans to announce its earnings 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%. Our most recent consensus estimate is calling for quarterly revenue of $898.77 million, up 22.42% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.58 per share and a revenue of $3.53 billion, representing changes of -40.82% and +25.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Snowflake Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Snowflake Inc. possesses a Zacks Rank of #3 (Hold).
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 198.63. This signifies a premium in comparison to the average Forward P/E of 31.17 for its industry.
It is also worth noting that SNOW currently has a PEG ratio of 29.28. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 2.3 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 34% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.