Analysts on Wall Street project that Snowflake Inc. (SNOW) will announce quarterly earnings of $0.27 per share in its forthcoming report, representing a decline of 10% year over year. Revenues are projected to reach $1.25 billion, increasing 26.9% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
That said, let's delve into the average estimates of some Snowflake metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Revenue- Product revenue' should arrive at $1.20 billion. The estimate indicates a change of +26.9% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenue- Professional services and other revenue' will likely reach $53.98 million. The estimate points to a change of +24.2% from the year-ago quarter.
Analysts predict that the 'Remaining performance obligations' will reach $8.89 billion. The estimate is in contrast to the year-ago figure of $6.90 billion.
The consensus estimate for 'Total customers' stands at 13,106 . The estimate compares to the year-ago value of 11,159 .
The collective assessment of analysts points to an estimated 'Customers with trailing 12-month product revenue greater than $1 million' of 729 . The estimate compares to the year-ago value of 580 .
Analysts forecast 'Non-GAAP product gross profit' to reach $889.68 million. Compared to the present estimate, the company reported $715.31 million in the same quarter last year.
Analysts' assessment points toward 'GAAP product gross profit' reaching $837.99 million. Compared to the present estimate, the company reported $670.10 million in the same quarter last year.
View all Key Company Metrics for Snowflake here>>>
Shares of Snowflake have experienced a change of -15.1% in the past month compared to the -0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), SNOW is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Snowflake Inc. (SNOW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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