In This Article:
In its upcoming report, Snowflake Inc. (SNOW) is predicted by Wall Street analysts to post quarterly earnings of $0.22 per share, reflecting an increase of 57.1% compared to the same period last year. Revenues are forecasted to be $1 billion, representing a year-over-year increase of 21.1%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Snowflake metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Revenue- Product revenue' will reach $934.50 million. The estimate indicates a year-over-year change of +18.4%.
Analysts forecast 'Revenue- Professional services and other revenue' to reach $44.56 million. The estimate indicates a change of +13.9% from the prior-year quarter.
Analysts' assessment points toward 'Remaining performance obligations' reaching $6.55 billion. Compared to the current estimate, the company reported $5 billion in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Total customers' should arrive at 11,485. The estimate compares to the year-ago value of 9,822.
It is projected by analysts that the 'Customers with trailing 12-month product revenue greater than $1 million' will reach 603. Compared to the present estimate, the company reported 485 in the same quarter last year.
The consensus estimate for 'GAAP Product gross profit' stands at $678.55 million. Compared to the current estimate, the company reported $569.93 million in the same quarter of the previous year.
View all Key Company Metrics for Snowflake here>>>
Over the past month, shares of Snowflake have returned +27.6% versus the Zacks S&P 500 composite's +9.8% change. Currently, SNOW carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>