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Snowflake Inc. (SNOW) Stock Moves -0.04%: What You Should Know
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Snowflake Inc. (SNOW - Free Report) closed at $166.67 in the latest trading session, marking a -0.04% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the company had gained 12.21% over the past month. This has outpaced the Computer and Technology sector's gain of 10.56% and the S&P 500's gain of 7.87% in that time.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's earnings report is expected on November 29, 2023. The company is forecasted to report an EPS of $0.16, showcasing a 45.45% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $710.54 million, indicating a 27.56% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.66 per share and a revenue of $2.75 billion, demonstrating changes of +164% and +32.92%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Snowflake Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained unchanged. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 254.4. This expresses a premium compared to the average Forward P/E of 35.92 of its industry.
It's also important to note that SNOW currently trades at a PEG ratio of 3.93. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 1.61 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 43, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Snowflake Inc. (SNOW) Stock Moves -0.04%: What You Should Know
Snowflake Inc. (SNOW - Free Report) closed at $166.67 in the latest trading session, marking a -0.04% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the company had gained 12.21% over the past month. This has outpaced the Computer and Technology sector's gain of 10.56% and the S&P 500's gain of 7.87% in that time.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. The company's earnings report is expected on November 29, 2023. The company is forecasted to report an EPS of $0.16, showcasing a 45.45% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $710.54 million, indicating a 27.56% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.66 per share and a revenue of $2.75 billion, demonstrating changes of +164% and +32.92%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Snowflake Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained unchanged. Snowflake Inc. is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 254.4. This expresses a premium compared to the average Forward P/E of 35.92 of its industry.
It's also important to note that SNOW currently trades at a PEG ratio of 3.93. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 1.61 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 43, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.