Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know
Snowflake Inc. (SNOW) closed the most recent trading day at $188.24, moving -1.64% from the previous trading session. This change lagged the S&P 500's daily gain of 1.22%.
Prior to today's trading, shares of the company had lost 16.48% over the past month. This has lagged the Computer and Technology sector's loss of 3.53% and the S&P 500's loss of 1.49% in that time.
SNOW will be looking to display strength as it nears its next earnings release, which is expected to be May 26, 2021.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.64 per share and revenue of $1.09 billion. These totals would mark changes of +64.84% and +84.2%, respectively, from last year.
Any recent changes to analyst estimates for SNOW should also be noted by investors. These revisions help to show the ever-changing nature of 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 currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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