Snowflake Inc. (SNOW) closed the most recent trading day at $199.84, moving -6.53% from the previous trading session. This move lagged the S&P 500's daily gain of 0.82%.
Coming into today, shares of the company had lost 8.63% in the past month. In that same time, the Computer and Technology sector gained 2.39%, while the S&P 500 gained 2.31%.
Wall Street will be looking for positivity from SNOW as it approaches its next earnings report date. This is expected to be May 26, 2021.
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. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. 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 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 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.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.
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