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Why the Market Dipped But Snowflake Inc. (SNOW) Gained Today
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $162.33, marking a +1.07% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.74%. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 2.38%.
The company's shares have seen a decrease of 5.08% over the last month, surpassing the Computer and Technology sector's loss of 5.77% and falling behind the S&P 500's loss of 4.99%.
Analysts and investors alike will be keeping a close eye on the performance of Snowflake Inc. in its upcoming earnings disclosure. In that report, analysts expect Snowflake Inc. to post earnings of $0.33 per share. This would mark year-over-year growth of 37.5%. Alongside, our most recent consensus estimate is anticipating revenue of $1.32 billion, indicating a 26.63% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.8 per share and revenue of $5.89 billion, which would represent changes of +44% and +25.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 9.91% higher. At present, Snowflake Inc. boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Snowflake Inc. is currently being traded at a Forward P/E ratio of 89.26. Its industry sports an average Forward P/E of 18.93, so one might conclude that Snowflake Inc. is trading at a premium comparatively.
Also, we should mention that SNOW has a PEG ratio of 4.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SNOW's industry had an average PEG ratio of 1.04 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why the Market Dipped But Snowflake Inc. (SNOW) Gained Today
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $162.33, marking a +1.07% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.74%. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 2.38%.
The company's shares have seen a decrease of 5.08% over the last month, surpassing the Computer and Technology sector's loss of 5.77% and falling behind the S&P 500's loss of 4.99%.
Analysts and investors alike will be keeping a close eye on the performance of Snowflake Inc. in its upcoming earnings disclosure. In that report, analysts expect Snowflake Inc. to post earnings of $0.33 per share. This would mark year-over-year growth of 37.5%. Alongside, our most recent consensus estimate is anticipating revenue of $1.32 billion, indicating a 26.63% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.8 per share and revenue of $5.89 billion, which would represent changes of +44% and +25.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 9.91% higher. At present, Snowflake Inc. boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Snowflake Inc. is currently being traded at a Forward P/E ratio of 89.26. Its industry sports an average Forward P/E of 18.93, so one might conclude that Snowflake Inc. is trading at a premium comparatively.
Also, we should mention that SNOW has a PEG ratio of 4.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SNOW's industry had an average PEG ratio of 1.04 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.