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Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know

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Zacks Equity Research
·2 min read
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In the latest trading session, Snowflake Inc. (SNOW) closed at $303.61, marking a -0.34% move from the previous day. This move lagged the S&P 500's daily gain of 1.09%. Elsewhere, the Dow gained 1.08%, while the tech-heavy Nasdaq added 1.23%.

Investors will be hoping for strength from SNOW as it approaches its next earnings release, which is expected to be March 3, 2021.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 sporting a Zacks Rank of #2 (Buy).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 26% 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.


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Zacks Investment Research