Snowflake Inc. (SNOW) closed at $130.87 in the latest trading session, marking a +0.26% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.23% for the day. On the other hand, the Dow registered a loss of 0.91%, and the technology-centric Nasdaq increased by 0.1%.

Heading into today, shares of the company had lost 17.86% over the past month, lagging the Computer and Technology sector's loss of 16.18% and the S&P 500's loss of 12.13% in that time.

Market participants will be closely following the financial results of Snowflake Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.22, reflecting a 57.14% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1 billion, indicating a 21.15% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $1.14 per share and a revenue of $4.46 billion, demonstrating changes of +37.35% and +23.04%, respectively, from the preceding year.

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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.41% higher. As of now, Snowflake Inc. holds a Zacks Rank of #3 (Hold).

Looking at valuation, Snowflake Inc. is presently trading at a Forward P/E ratio of 114.43. This represents a premium compared to its industry's average Forward P/E of 23.71.

One should further note that SNOW currently holds a PEG ratio of 8.79. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 1.77 as of yesterday's close.

The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 34% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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