In the latest trading session, Snowflake Inc. (SNOW) closed at $231.44, marking a +0.02% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.92%.

Prior to today's trading, shares of the company had gained 2.37% over the past month. This has lagged the Computer and Technology sector's gain of 9.54% and the S&P 500's gain of 6.83% in that time.

SNOW will be looking to display strength as it nears its next earnings release.

SNOW's full-year Zacks Consensus Estimates are calling for earnings of -$0.64 per share and revenue of $1.09 billion. These results would represent year-over-year changes of +64.84% and +84.2%, respectively.

Investors might also notice recent changes to analyst estimates for SNOW. 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 shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNOW currently has a Zacks Rank of #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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