Snowflake Inc. (SNOW) Laps the Stock Market: Here's Why

The latest trading session saw Snowflake Inc. (SNOW) ending at $173.53, denoting a +1.6% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 0.88%. On the other hand, the Dow registered a gain of 1.24%, and the technology-centric Nasdaq increased by 0.65%.The the stock of company has risen by 5.79% in the past month, leading the Computer and Technology sector's gain of 0.37% and the S&P 500's gain of 1.17%.Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. In that report, analysts expect Snowflake Inc. to post earnings of $0.17 per share. This would mark a year-over-year decline of 51.43%. At the same time, our most recent consensus estimate is projecting a revenue of $952.67 million, reflecting a 22.97% rise from the equivalent quarter last year.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.69 per share and revenue of $3.59 billion. These totals would mark changes of -29.59% and +28%, respectively, from last year.Investors should also note any recent changes to analyst estimates for Snowflake Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. As of now, Snowflake Inc. holds a Zacks Rank of #3 (Hold).In terms of valuation, Snowflake Inc. is currently trading at a Forward P/E ratio of 247.28. This valuation marks a premium compared to its industry's average Forward P/E of 28.86.We can additionally observe that SNOW currently boasts a PEG ratio of 22.82. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 2.19 at yesterday's closing price.The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 36, finds itself in the top 15% echelons of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Snowflake Inc. (SNOW): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks