We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Snowflake Inc. (SNOW) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Read MoreHide Full Article
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $360.37, marking a -2.31% move from the previous day. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw a decrease of 0.44%.
Heading into today, shares of the company had gained 12.13% over the past month, outpacing the Computer and Technology sector's gain of 4.85% and the S&P 500's gain of 2.36%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. The company is expected to report EPS of $0.6, up 71.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.65 billion, up 36.11% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.21 per share and a revenue of $6.3 billion, representing changes of +76.8% and +34.53%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Snowflake Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.52% increase. Snowflake Inc. is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Snowflake Inc. is currently exchanging hands at a Forward P/E ratio of 167.03. This signifies a premium in comparison to the average Forward P/E of 20.96 for its industry.
It's also important to note that SNOW currently trades at a PEG ratio of 5.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. SNOW's industry had an average PEG ratio of 1.21 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.
View the Zacks #1 Rank List
Image: Bigstock
Snowflake Inc. (SNOW) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $360.37, marking a -2.31% move from the previous day. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw a decrease of 0.44%.
Heading into today, shares of the company had gained 12.13% over the past month, outpacing the Computer and Technology sector's gain of 4.85% and the S&P 500's gain of 2.36%.
Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. The company is expected to report EPS of $0.6, up 71.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.65 billion, up 36.11% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.21 per share and a revenue of $6.3 billion, representing changes of +76.8% and +34.53%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Snowflake Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.52% increase. Snowflake Inc. is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Snowflake Inc. is currently exchanging hands at a Forward P/E ratio of 167.03. This signifies a premium in comparison to the average Forward P/E of 20.96 for its industry.
It's also important to note that SNOW currently trades at a PEG ratio of 5.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. SNOW's industry had an average PEG ratio of 1.21 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.