Snowflake Inc. (SNOW) closed at $162.43 in the latest trading session, marking a -0.02% move from the prior day. This change lagged the S&P 500's 0.16% gain on the day. Meanwhile, the Dow experienced a rise of 0.86%, and the technology-dominated Nasdaq saw a decrease of 0.38%.

Shares of the company have depreciated by 3.11% over the course of the past month, underperforming the Computer and Technology sector's loss of 1.29% and the S&P 500's loss of 2.2%.

The investment community will be closely monitoring the performance of Snowflake Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.17, down 51.43% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $952.67 million, indicating a 22.97% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.69 per share and a revenue of $3.59 billion, representing changes of -29.59% and +28%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Snowflake Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.09% increase. Snowflake Inc. presently features a Zacks Rank of #3 (Hold).

From a valuation perspective, Snowflake Inc. is currently exchanging hands at a Forward P/E ratio of 235.22. This expresses a premium compared to the average Forward P/E of 28.07 of its industry.

Meanwhile, SNOW's PEG ratio is currently 21.71. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. SNOW's industry had an average PEG ratio of 2.18 as of yesterday's close.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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