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Snowflake Inc. (SNOW) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw Snowflake Inc. (SNOW - Free Report) ending at $216.21, denoting a -1.76% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, lost 0.32%.
Shares of the company have appreciated by 7.05% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.15% and the S&P 500's gain of 2.99%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 28, 2024. The company's upcoming EPS is projected at $0.17, signifying a 21.43% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $759.86 million, up 29.01% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Snowflake Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Snowflake Inc. has a Forward P/E ratio of 198.13 right now. This expresses a premium compared to the average Forward P/E of 31.67 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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Snowflake Inc. (SNOW) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Snowflake Inc. (SNOW - Free Report) ending at $216.21, denoting a -1.76% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, lost 0.32%.
Shares of the company have appreciated by 7.05% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.15% and the S&P 500's gain of 2.99%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 28, 2024. The company's upcoming EPS is projected at $0.17, signifying a 21.43% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $759.86 million, up 29.01% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Snowflake Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Snowflake Inc. presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Snowflake Inc. has a Forward P/E ratio of 198.13 right now. This expresses a premium compared to the average Forward P/E of 31.67 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.