Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, Snowflake Inc. (SNOW) closed at $233.75, marking a -0.09% move from the previous day. This change lagged the S&P 500's 0.42% gain on the day.

Coming into today, shares of the company had gained 2.6% in the past month. In that same time, the Computer and Technology sector gained 5.45%, while the S&P 500 gained 6.32%.

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 -$0.67 per share and revenue of $1.09 billion. These results would represent year-over-year changes of +63.19% and +84.2%, respectively.

Any recent changes to analyst estimates for SNOW should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SNOW is holding a Zacks Rank of #3 (Hold) right now.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 207, putting it in the bottom 19% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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