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Snowflake Inc. (SNOW) Outperforms Broader Market: What You Need to Know
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Snowflake Inc. (SNOW - Free Report) closed at $224.64 in the latest trading session, marking a +1.37% move from the prior day. This move outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.44%.
The company's stock has dropped by 8.05% in the past month, falling short of the Computer and Technology sector's gain of 7.68% and the S&P 500's gain of 2.72%.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. On that day, Snowflake Inc. is projected to report earnings of $0.31 per share, which would represent year-over-year growth of 55%. Our most recent consensus estimate is calling for quarterly revenue of $1.18 billion, up 25.27% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.17 per share and a revenue of $4.6 billion, representing changes of +40.96% and +26.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.61% increase. Currently, Snowflake Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 188.78. This denotes a premium relative to the industry average Forward P/E of 30.06.
We can also see that SNOW currently has a PEG ratio of 6.01. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Internet - Software industry stood at 2.26 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 27% 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.
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Snowflake Inc. (SNOW) Outperforms Broader Market: What You Need to Know
Snowflake Inc. (SNOW - Free Report) closed at $224.64 in the latest trading session, marking a +1.37% move from the prior day. This move outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.44%.
The company's stock has dropped by 8.05% in the past month, falling short of the Computer and Technology sector's gain of 7.68% and the S&P 500's gain of 2.72%.
The upcoming earnings release of Snowflake Inc. will be of great interest to investors. On that day, Snowflake Inc. is projected to report earnings of $0.31 per share, which would represent year-over-year growth of 55%. Our most recent consensus estimate is calling for quarterly revenue of $1.18 billion, up 25.27% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.17 per share and a revenue of $4.6 billion, representing changes of +40.96% and +26.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.61% increase. Currently, Snowflake Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 188.78. This denotes a premium relative to the industry average Forward P/E of 30.06.
We can also see that SNOW currently has a PEG ratio of 6.01. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Internet - Software industry stood at 2.26 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 27% 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.