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Snowflake Inc. (SNOW) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Snowflake Inc. (SNOW - Free Report) ended the recent trading session at $146.40, demonstrating a -5.89% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.89%.
Shares of the company witnessed a loss of 3.14% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 14.93%, and the S&P 500's gain of 9.71%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.33, signifying a 37.50% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.32 billion, up 26.63% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.81 per share and revenue of $5.89 billion, which would represent changes of +44.8% and +25.73%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Snowflake Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.07% higher. Right now, Snowflake Inc. possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 86.09. This expresses a premium compared to the average Forward P/E of 19.47 of its industry.
Also, we should mention that SNOW has a PEG ratio of 3.94. 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 Internet - Software was holding an average PEG ratio of 1.14 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Snowflake Inc. (SNOW - Free Report) ended the recent trading session at $146.40, demonstrating a -5.89% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.89%.
Shares of the company witnessed a loss of 3.14% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 14.93%, and the S&P 500's gain of 9.71%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.33, signifying a 37.50% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.32 billion, up 26.63% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.81 per share and revenue of $5.89 billion, which would represent changes of +44.8% and +25.73%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Snowflake Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.07% higher. Right now, Snowflake Inc. possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 86.09. This expresses a premium compared to the average Forward P/E of 19.47 of its industry.
Also, we should mention that SNOW has a PEG ratio of 3.94. 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 Internet - Software was holding an average PEG ratio of 1.14 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.