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Insights Into Snowflake (SNOW) Q3: Wall Street Projections for Key Metrics
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In its upcoming report, Snowflake Inc. (SNOW - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.15 per share, reflecting a decline of 40% compared to the same period last year. Revenues are forecasted to be $898.77 million, representing a year-over-year increase of 22.4%.
The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Snowflake metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Product revenue' will reach $853.19 million. The estimate points to a change of +22.2% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue- Professional services and other revenue' will likely reach $40.45 million. The estimate indicates a change of +13.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Remaining performance obligations' should come in at $5.35 billion. The estimate compares to the year-ago value of $3.70 billion.
Analysts expect 'Total customers' to come in at 10,602. The estimate is in contrast to the year-ago figure of 8,907.
Analysts forecast 'Customers with trailing 12-month product revenue greater than $1 million' to reach 542. The estimate is in contrast to the year-ago figure of 436.
Analysts' assessment points toward 'GAAP Product gross profit' reaching $595.25 million. Compared to the current estimate, the company reported $547.10 million in the same quarter of the previous year.
Snowflake shares have witnessed a change of +8.6% in the past month, in contrast to the Zacks S&P 500 composite's +1.6% move. With a Zacks Rank #4 (Sell), SNOW is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Insights Into Snowflake (SNOW) Q3: Wall Street Projections for Key Metrics
In its upcoming report, Snowflake Inc. (SNOW - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.15 per share, reflecting a decline of 40% compared to the same period last year. Revenues are forecasted to be $898.77 million, representing a year-over-year increase of 22.4%.
The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Snowflake metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Product revenue' will reach $853.19 million. The estimate points to a change of +22.2% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue- Professional services and other revenue' will likely reach $40.45 million. The estimate indicates a change of +13.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Remaining performance obligations' should come in at $5.35 billion. The estimate compares to the year-ago value of $3.70 billion.
Analysts expect 'Total customers' to come in at 10,602. The estimate is in contrast to the year-ago figure of 8,907.
Analysts forecast 'Customers with trailing 12-month product revenue greater than $1 million' to reach 542. The estimate is in contrast to the year-ago figure of 436.
Analysts' assessment points toward 'GAAP Product gross profit' reaching $595.25 million. Compared to the current estimate, the company reported $547.10 million in the same quarter of the previous year.
View all Key Company Metrics for Snowflake here>>>
Snowflake shares have witnessed a change of +8.6% in the past month, in contrast to the Zacks S&P 500 composite's +1.6% move. With a Zacks Rank #4 (Sell), SNOW is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>