Yahoo Finance Snowflake Inc. (SNOW) Dips More Than Broader Markets: What You Should Know
Snowflake Inc. (SNOW) closed the most recent trading day at $144.44, moving -0.93% from the previous trading session. This change lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.
Prior to today's trading, shares of the company had gained 5.83% over the past month. This has lagged the Computer and Technology sector's gain of 11.1% and outpaced the S&P 500's gain of 4.57% in that time.
Investors will be hoping for strength from Snowflake Inc. as it approaches its next earnings release. On that day, Snowflake Inc. is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 75%. Meanwhile, our latest consensus estimate is calling for revenue of $570.96 million, up 48.78% from the prior-year quarter.
SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.22 per share and revenue of $2.04 billion. These results would represent year-over-year changes of +1000% and +67.45%, respectively.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.72% higher within the past month. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Snowflake Inc.'s current valuation metrics, including its Forward P/E ratio of 649.56. This represents a premium compared to its industry's average Forward P/E of 42.46.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 250+ industries.
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.
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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Snowflake Inc. (SNOW) : Free Stock Analysis Report
