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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 the most recent trading day at $274.45, moving +1.21% from the previous trading session. This change outpaced the S&P 500's 0.26% gain on the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.61%.
Shares of the company witnessed a gain of 12.74% over the previous month, beating the performance of the Computer and Technology sector with its gain of 6.42%, and the S&P 500's gain of 2.08%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.31, showcasing a 55% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.18 billion, reflecting a 25.39% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.17 per share and a revenue of $4.6 billion, indicating changes of +40.96% and +26.9%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Snowflake Inc. is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Snowflake Inc. is at present trading with a Forward P/E ratio of 231.02. This denotes a premium relative to the industry average Forward P/E of 28.95.
It's also important to note that SNOW currently trades at a PEG ratio of 7.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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) Outperforms Broader Market: What You Need to Know
Snowflake Inc. (SNOW - Free Report) closed the most recent trading day at $274.45, moving +1.21% from the previous trading session. This change outpaced the S&P 500's 0.26% gain on the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.61%.
Shares of the company witnessed a gain of 12.74% over the previous month, beating the performance of the Computer and Technology sector with its gain of 6.42%, and the S&P 500's gain of 2.08%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.31, showcasing a 55% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.18 billion, reflecting a 25.39% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.17 per share and a revenue of $4.6 billion, indicating changes of +40.96% and +26.9%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Snowflake Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Snowflake Inc. is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Snowflake Inc. is at present trading with a Forward P/E ratio of 231.02. This denotes a premium relative to the industry average Forward P/E of 28.95.
It's also important to note that SNOW currently trades at a PEG ratio of 7.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.