Snowflake Inc. (SNOW) closed the last trading day at $ 237.24, up 0.21% from the previous trading session. That change fell short of the S&P 500’s 0.75% daily gain.
Today, the company’s stock is down 0.7% over the past month. At the same time, the computer and technology sector was up 6.19% while the S&P 500 was up 2.91%.
Wall Street will be on the lookout for positivity on SNOW as it nears its next earnings report date.
SNOW’s Zacks Consensus Estimates for the full year project earnings per share of -0.57 US dollars and sales of 1.11 billion US dollars. These results would represent changes of +68.68% and +87.67% respectively compared to the previous year.
Investors might also notice the recent changes in analysts’ estimates for SNOW. These revisions help highlight the ever-changing nature of short-term business trends. With this in mind, we can view positive valuation revisions as a sign of optimism about the company’s business outlook.
Research has shown that these estimate revisions correlate directly with short-term stock price dynamics. To take advantage of this, we developed the Zacks Rank, a proprietary model that takes these estimation changes into account and provides an actionable rating system.
The Zacks Rank system ranges from # 1 (strong buy) to # 5 (strong sell) and has a proven, externally audited track record of outperformance. The EPS estimate remained flat over the past month. SNOW is currently a # 3 Zacks (Hold).
The Internet software industry is part of the computer and technology sector. This industry currently has a Zacks industry rank of 200, which puts it in the bottom 22% of all over 250 industries.
The Zacks Industry Rank is a best-to-worst ranking based on the average Zacks rank of each company in each of those sectors. Our research shows that the top-rated 50% of industries outperform the bottom half by a factor of 2 to 1.
To keep track of SNOW in the upcoming trading sessions, be sure to use Zacks.com.
Would you like the latest recommendations from Zacks Investment Research? Today you can download the 7 best stocks for the next 30 days. Click here to get this free report