Why Snowflake Inc. (SNOW) Dipped More Than Broader Market Today

The most recent trading session ended with Snowflake Inc. (SNOW) standing at $113.60, reflecting a -1.65% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.92% loss on the day. Elsewhere, the Dow saw a downswing of 0.96%, while the tech-heavy Nasdaq depreciated by 1.6%.The the stock of company has risen by 2.67% in the past month, lagging the Computer and Technology sector's gain of 3.64% and the S&P 500's gain of 2.68%.Investors will be eagerly watching for the performance of Snowflake Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.15, down 40% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $898.77 million, up 22.42% from the prior-year quarter.SNOW's full-year Zacks Consensus Estimates are calling for earnings of $0.58 per share and revenue of $3.53 billion. These results would represent year-over-year changes of -40.82% and +25.78%, respectively.Investors might also notice recent changes to analyst estimates for Snowflake Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Snowflake Inc. boasts a Zacks Rank of #3 (Hold).From a valuation perspective, Snowflake Inc. is currently exchanging hands at a Forward P/E ratio of 198.65. This represents a premium compared to its industry's average Forward P/E of 32.38.Investors should also note that SNOW has a PEG ratio of 29.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 2.11.The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 25% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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