Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know
Snowflake Inc. (SNOW) closed at $281.88 in the latest trading session, marking a -1.51% move from the prior day. This change lagged the S&P 500's daily gain of 1.39%. At the same time, the Dow added 0.83%, and the tech-heavy Nasdaq gained 1.97%.
Coming into today, shares of the company had lost 16.11% in the past month. In that same time, the Computer and Technology sector gained 3.17%, while the S&P 500 gained 2.58%.
Investors will be hoping for strength from SNOW as it approaches its next earnings release.
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 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 192, putting it in the bottom 25% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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