Analysts on Wall Street project that Snowflake Inc. (SNOW) will announce quarterly earnings of $0.31 per share in its forthcoming report, representing an increase of 55% year over year. Revenues are projected to reach $1.18 billion, increasing 25.4% from the same quarter last year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Snowflake metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Revenue- Product revenue' reaching $1.13 billion. The estimate indicates a year-over-year change of +25.4%.
Analysts predict that the 'Revenue- Professional services and other revenue' will reach $52.70 million. The estimate suggests a change of +26% year over year.
The collective assessment of analysts points to an estimated 'Remaining performance obligations' of $7.46 billion. The estimate is in contrast to the year-ago figure of $5.70 billion.
It is projected by analysts that the 'Total customers' will reach 12,483 . The estimate is in contrast to the year-ago figure of 10,618 .
Based on the collective assessment of analysts, 'Customers with trailing 12-month product revenue greater than $1 million' should arrive at 686 . Compared to the current estimate, the company reported 542 in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Non-GAAP Product Gross Profit' will likely reach $915.73 million. Compared to the present estimate, the company reported $686.90 million in the same quarter last year.
Analysts forecast 'GAAP Product gross profit' to reach $798.98 million. Compared to the present estimate, the company reported $636.66 million in the same quarter last year.
View all Key Company Metrics for Snowflake here>>>
Snowflake shares have witnessed a change of -7.8% in the past month, in contrast to the Zacks S&P 500 composite's +0.4% move. With a Zacks Rank #3 (Hold), SNOW is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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 ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
