Yahoo Finance Gear Up for Snowflake (SNOW) Q1 Earnings: Wall Street Estimates for Key Metrics
The upcoming report from Snowflake Inc. (SNOW) is expected to reveal quarterly earnings of $0.17 per share, indicating an increase of 13.3% compared to the year-ago period. Analysts forecast revenues of $786.95 million, representing an increase of 26.2% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 3.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Snowflake metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Revenue- Product revenue' of $748.19 million. The estimate suggests a change of +26.8% year over year.
The combined assessment of analysts suggests that 'Revenue- Professional services and other revenue' will likely reach $38.16 million. The estimate suggests a change of +13.8% year over year.
Analysts forecast 'Total customers' to reach 9,766. Compared to the present estimate, the company reported 8,167 in the same quarter last year.
It is projected by analysts that the 'Customers with trailing 12-month product revenue greater than $1 million' will reach 492. The estimate is in contrast to the year-ago figure of 373.
Analysts expect 'Non-GAAP Gross profit (loss)- Product' to come in at $548.94 million. The estimate compares to the year-ago value of $454.08 million.
View all Key Company Metrics for Snowflake here>>>
Over the past month, shares of Snowflake have returned +11.2% versus the Zacks S&P 500 composite's +5% change. Currently, SNOW carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Snowflake Inc. (SNOW) : Free Stock Analysis Report
