Posted 1/30/2024, 10:50:18 PM
Snowflake Stock Underperforms Despite Strong Growth Forecasts
- Snowflake (SNOW) stock fell 1.57% despite broader market gains, underperforming the S&P 500, Dow, and Nasdaq
- SNOW is up 5.3% over the past month, below the tech sector's 6.36% gain
- SNOW earnings per share projected to rise 21.43% next quarter with 28.69% revenue growth
- Full-year forecasts show EPS up 216% and revenue increasing 35.05%
- SNOW has a high valuation, trading at a Forward P/E ratio of 266.28, above the Internet Software industry average of 34.36