Unveiling Snowflake (SNOW) Q2 Outlook: Wall Street Estimates for Key Metrics

The upcoming report from Snowflake Inc. (SNOW) is expected to reveal quarterly earnings of $0.26 per share, indicating an increase of 44.4% compared to the year-ago period. Analysts forecast revenues of $1.09 billion, representing an increase of 24.9% year over year.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.In light of this perspective, let's dive into the average estimates of certain Snowflake metrics that are commonly tracked and forecasted by Wall Street analysts.According to the collective judgment of analysts, 'Revenue- Product revenue' should come in at $1.04 billion. The estimate indicates a year-over-year change of +25.4%.Analysts predict that the 'Revenue- Professional services and other revenue' will reach $45.82 million. The estimate suggests a change of +15.8% year over year.The average prediction of analysts places 'Remaining performance obligations' at $6.84 billion. Compared to the present estimate, the company reported $5.20 billion in the same quarter last year.The collective assessment of analysts points to an estimated 'Total customers' of 11,961 . The estimate compares to the year-ago value of 10,249 .The combined assessment of analysts suggests that 'Customers with trailing 12-month product revenue greater than $1 million' will likely reach 634 . The estimate compares to the year-ago value of 510 .The consensus among analysts is that 'GAAP Product gross profit' will reach $744.86 million. Compared to the present estimate, the company reported $593.67 million in the same quarter last year. View all Key Company Metrics for Snowflake here>>> Snowflake shares have witnessed a change of -9.5% in the past month, in contrast to the Zacks S&P 500 composite's +1.1% 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 >>>> .One Big Gain, Every Trading DayTo help you take full advantage of this market, you’re invited to access every stock recommendation in all our private portfolios - for just $1.Zacks private portfolio services that closed 256 double and triple-digit winners in 2024 alone. That’s about one big gain every day the market was open. Of course, not all our picks are winners, but members have seen recent gains as high as +627% +1,340%, and +1,708%.Imagine how much you could profit with a steady stream of real-time picks from all our services that cover a number of strategies to suit a variety of investing and trading styles.See Stocks Now >>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 ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks