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Snowflake Inc. (SNOW) Falls More Steeply Than Broader Market: What Investors Need to Know
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Snowflake Inc. (SNOW - Free Report) ended the recent trading session at $206.10, demonstrating a -1.57% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.53%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 1%.
Shares of the company witnessed a loss of 5.08% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 2.62%, and the S&P 500's gain of 2.06%.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.26, reflecting a 13.33% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, up 26.8% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.2 per share and revenue of $4.65 billion, which would represent changes of +44.58% and +28.18%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 174.16. This signifies a premium in comparison to the average Forward P/E of 23.95 for its industry.
It is also worth noting that SNOW currently has a PEG ratio of 5.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 1.45 at the close of the market yesterday.
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 is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
Snowflake Inc. (SNOW - Free Report) ended the recent trading session at $206.10, demonstrating a -1.57% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.53%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 1%.
Shares of the company witnessed a loss of 5.08% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 2.62%, and the S&P 500's gain of 2.06%.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.26, reflecting a 13.33% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, up 26.8% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.2 per share and revenue of $4.65 billion, which would represent changes of +44.58% and +28.18%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Snowflake Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 174.16. This signifies a premium in comparison to the average Forward P/E of 23.95 for its industry.
It is also worth noting that SNOW currently has a PEG ratio of 5.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 1.45 at the close of the market yesterday.
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 is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.