Yahoo Finance Snowflake Inc. (SNOW) Stock Dips While Market Gains: Key Facts
The latest trading session saw Snowflake Inc. (SNOW) ending at $157.44, denoting a -0.44% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.32%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.35%.
The company's shares have seen a decrease of 2.15% over the last month, not keeping up with the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2%.
Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.16, marking a 6.67% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $786.95 million, indicating a 26.2% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.85 per share and a revenue of $3.38 billion, indicating changes of -13.27% and +20.44%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 past month, the Zacks Consensus EPS estimate has moved 1.04% higher. Snowflake Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Snowflake Inc. is presently being traded at a Forward P/E ratio of 185.31. This signifies a premium in comparison to the average Forward P/E of 29.07 for its industry.
It's also important to note that SNOW currently trades at a PEG ratio of 10.84. 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 Internet - Software was holding an average PEG ratio of 1.73 at yesterday's closing price.
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 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Snowflake Inc. (SNOW) : Free Stock Analysis Report
