U.S. markets open in 5 hours 28 minutes
  • S&P Futures

    3,852.75
    +43.50 (+1.14%)
     
  • Dow Futures

    31,229.00
    +317.00 (+1.03%)
     
  • Nasdaq Futures

    13,109.00
    +198.00 (+1.53%)
     
  • Russell 2000 Futures

    2,249.90
    +50.70 (+2.31%)
     
  • Crude Oil

    62.57
    +1.07 (+1.74%)
     
  • Gold

    1,749.00
    +20.20 (+1.17%)
     
  • Silver

    26.98
    +0.53 (+2.02%)
     
  • EUR/USD

    1.2058
    -0.0029 (-0.24%)
     
  • 10-Yr Bond

    1.4600
    0.0000 (0.00%)
     
  • Vix

    25.02
    -3.87 (-13.40%)
     
  • GBP/USD

    1.3951
    +0.0029 (+0.21%)
     
  • USD/JPY

    106.6930
    +0.1910 (+0.18%)
     
  • BTC-USD

    47,145.85
    +2,581.96 (+5.79%)
     
  • CMC Crypto 200

    943.18
    +10.04 (+1.08%)
     
  • FTSE 100

    6,609.32
    +125.89 (+1.94%)
     
  • Nikkei 225

    29,663.50
    +697.49 (+2.41%)
     

Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

Snowflake Inc. (SNOW) closed at $299.47 in the latest trading session, marking a +0.25% move from the prior day. This change lagged the S&P 500's 0.47% gain on the day. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.5%.

Heading into today, shares of the company had lost 1.66% over the past month, lagging the Computer and Technology sector's gain of 10.12% and the S&P 500's gain of 3.18% in that time.

SNOW will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2021.

It is also important to note the recent changes to analyst estimates for SNOW. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SNOW currently has a Zacks Rank of #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 188, 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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 Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research