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May 26, 2022

Snowflake (SNOW, $128.28) fiscal Q1 earnings crushes Zacks Consensus Estimate

Snowflake posted its fiscal first-quarter earnings that surpassed expectations.

The cloud-computing date warehousing company’s fiscal 2023 non-GAAP earnings came in at 1 cent per share, exceeding the Zacks Consensus Estimate by 200%. The company incurred a loss of -24 cents in the year-ago quarter.

Revenues climbed +84.5% from the year-ago quarter to $422.4 million,  beating the consensus estimate by 3.11%.

Revenues from Snowflake’s product revenues (accounting for 93.4% of total revenues) rose +84.4% year over year to $394.4 million, well above the company’s  guidance range of $383 million-$388 million.

Professional Services and other revenues (6.6% to total revenues) surged 85.2% year over year to $27.9 million.

In the fiscal first quarter, Snowflake had a net revenue retention rate of 174% for existing customers, compared to 168% in the year-ago quarter but slightly lower than the 177% in the previous quarter.

The company had a  40% year-over-year growth in the number of customers, reaching 6,322 in the reported quarter.

For the second quarter of fiscal 2023, Snowflake projects product revenues in the range of $435 million-$440 million, implying year-over-year growth of 71-73%. The operating loss margin is expected at 2% for the second quarter.

For fiscal 2023, Snowflake now predicts product revenues in the range of $1.885 billion-$1.900 billion, indicating a year-over-year growth of 65-67%.

Related Ticker: SNOW

SNOW in downward trend: price dove below 50-day moving average on February 29, 2024

SNOW moved below its 50-day moving average on February 29, 2024 date and that indicates a change from an upward trend to a downward trend. In of 23 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 42 cases where SNOW's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The Momentum Indicator moved below the 0 level on February 29, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SNOW as a result. In of 67 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for SNOW turned negative on February 21, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 32 similar instances when the indicator turned negative. In of the 32 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SNOW declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The RSI Indicator entered the oversold zone -- be on the watch for SNOW's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SNOW advanced for three days, in of 220 cases, the price rose further within the following month. The odds of a continued upward trend are .

SNOW may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 118 cases where SNOW Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock slightly better than average.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SNOW’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (11.947) is normal, around the industry mean (28.933). P/E Ratio (0.000) is within average values for comparable stocks, (145.312). Projected Growth (PEG Ratio) (2.458) is also within normal values, averaging (2.854). Dividend Yield (0.000) settles around the average of (0.088) among similar stocks. P/S Ratio (22.026) is also within normal values, averaging (74.781).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Palo Alto Networks (NASDAQ:PANW), Shopify (NYSE:SHOP), Workday (NASDAQ:WDAY).

Industry description

Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.

Market Cap

The average market capitalization across the Packaged Software Industry is 10.29B. The market cap for tickers in the group ranges from 291 to 3.07T. MSFT holds the highest valuation in this group at 3.07T. The lowest valued company is BLGI at 291.

High and low price notable news

The average weekly price growth across all stocks in the Packaged Software Industry was 1%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was -0%. ROWKF experienced the highest price growth at 125%, while IFBD experienced the biggest fall at -97%.

Volume

The average weekly volume growth across all stocks in the Packaged Software Industry was 34%. For the same stocks of the Industry, the average monthly volume growth was 100% and the average quarterly volume growth was 105%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 52
P/E Growth Rating: 75
Price Growth Rating: 54
SMR Rating: 82
Profit Risk Rating: 88
Seasonality Score: 1 (-100 ... +100)
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

Industry PackagedSoftware

Profile
Fundamentals
Details
Industry
Other Consumer Services
Address
106 East Babcock Street
Phone
+1 844 766-9355
Employees
5884
Web
https://www.snowflake.com
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SNOW and

Correlation & Price change

A.I.dvisor indicates that over the last year, SNOW has been loosely correlated with COIN. These tickers have moved in lockstep 63% of the time. This A.I.-generated data suggests there is some statistical probability that if SNOW jumps, then COIN could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SNOW
1D Price
Change %
SNOW100%
-18.14%
COIN - SNOW
63%
Loosely correlated
+1.37%
DDOG - SNOW
62%
Loosely correlated
+0.66%
CLSK - SNOW
61%
Loosely correlated
-7.52%
MDB - SNOW
59%
Loosely correlated
+0.92%
RIOT - SNOW
53%
Loosely correlated
-9.84%
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