Snowflake Stock Rises on Positive Earnings Outlook Despite Lagging Broader Market

Snowflake Inc. (SNOW) closed higher but lagged the broader market gains.

The company is expected to report strong earnings growth later this quarter.

Consensus estimates point to robust revenue growth for Snowflake's full fiscal year.

Recent changes to analyst estimates are favorable for the stock.

Snowflake holds a Zacks Rank of #3 (Hold) based on its valuation metrics.