Curious about Snowflake (SNOW) Q2 Performance? Explore Wall Street Estimates for Key Metrics
Wall Street analysts expect Snowflake Inc. (SNOW) to post quarterly earnings of $0.15 per share in its upcoming report, which indicates a year-over-year decline of 31.8%. Revenues are expected to be $848.15 million, up 25.8% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts’ collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation 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.
That said, let’s delve into the average estimates of some Snowflake metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, ‘Revenue- Product revenue’ should come in at $806.15 million. The estimate suggests a change of +25.9% year over year.
Based on the collective assessment of analysts, ‘Revenue- Professional services and other revenue’ should arrive at $39.41 million. The estimate points to a change of +16.6% from the year-ago quarter.
The consensus among analysts is that ‘Total customers’ will reach 10,178. The estimate compares to the year-ago value of 8,537.
The consensus estimate for ‘Customers with trailing 12-month product revenue greater than $1 million’ stands at 512. The estimate compares to the year-ago value of 402.
It is projected by analysts that the ‘Non-GAAP Gross profit (loss)- Product’ will reach $569.45 million. Compared to the present estimate, the company reported $498.78 million in the same quarter last year.
View all Key Company Metrics for Snowflake here>>>
Snowflake shares have witnessed a change of -2.2% in the past month, in contrast to the Zacks S&P 500 composite’s -1.5% 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 Report
