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Snowflake Inc. (SNOW) Stock Dips While Market Gains: Key Facts
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Snowflake Inc. (SNOW - Free Report) closed at $223.79 in the latest trading session, marking a -4.16% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.44%.
Shares of the company have appreciated by 7.83% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.69%, and the S&P 500's gain of 0.86%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.26, marking a 13.33% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.25 billion, reflecting a 26.78% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.2 per share and revenue of $4.65 billion, indicating changes of +44.58% and +28.17%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Snowflake Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Snowflake Inc. is presently being traded at a Forward P/E ratio of 194.21. This denotes a premium relative to the industry average Forward P/E of 25.1.
We can also see that SNOW currently has a PEG ratio of 5.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry currently had an average PEG ratio of 1.61 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 55, positioning it in the top 23% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Snowflake Inc. (SNOW) Stock Dips While Market Gains: Key Facts
Snowflake Inc. (SNOW - Free Report) closed at $223.79 in the latest trading session, marking a -4.16% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.44%.
Shares of the company have appreciated by 7.83% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.69%, and the S&P 500's gain of 0.86%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.26, marking a 13.33% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.25 billion, reflecting a 26.78% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.2 per share and revenue of $4.65 billion, indicating changes of +44.58% and +28.17%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Snowflake Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Snowflake Inc. is presently being traded at a Forward P/E ratio of 194.21. This denotes a premium relative to the industry average Forward P/E of 25.1.
We can also see that SNOW currently has a PEG ratio of 5.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry currently had an average PEG ratio of 1.61 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 55, positioning it in the top 23% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.