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Snowflake Inc. (SNOW) Stock Dips While Market Gains: Key Facts
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In the latest close session, Snowflake Inc. (SNOW - Free Report) was down 1.58% at $212.25. This move lagged the S&P 500's daily gain of 0.06%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the company had gained 0.91% in the past month. In that same time, the Computer and Technology sector gained 9.6%, while the S&P 500 gained 5.88%.
The investment community will be paying close attention to the earnings performance of Snowflake Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.26, reflecting a 44.44% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.09 billion, indicating a 24.91% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.06 per share and revenue of $4.52 billion, indicating changes of +27.71% and +24.57%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Snowflake Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.03% higher. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 202.9. This represents a premium compared to its industry average Forward P/E of 29.18.
We can also see that SNOW currently has a PEG ratio of 9.33. 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 2.18 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 77, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Snowflake Inc. (SNOW) Stock Dips While Market Gains: Key Facts
In the latest close session, Snowflake Inc. (SNOW - Free Report) was down 1.58% at $212.25. This move lagged the S&P 500's daily gain of 0.06%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the company had gained 0.91% in the past month. In that same time, the Computer and Technology sector gained 9.6%, while the S&P 500 gained 5.88%.
The investment community will be paying close attention to the earnings performance of Snowflake Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.26, reflecting a 44.44% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.09 billion, indicating a 24.91% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.06 per share and revenue of $4.52 billion, indicating changes of +27.71% and +24.57%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Snowflake Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.03% higher. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 202.9. This represents a premium compared to its industry average Forward P/E of 29.18.
We can also see that SNOW currently has a PEG ratio of 9.33. 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 2.18 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 77, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.