Snowflake To Post Q4 Earnings: What's In The Offing?

Image Source: Pixabay

Snowflake (SNOW - Free Report) is set to report its fourth-quarter fiscal 2023 results on Mar 1.

The Zacks Consensus Estimate for the top line is pegged at $571.57 million, suggesting year-over-year growth of 48.94%.

The consensus mark for the bottom line is pegged at earnings of 3 cents per share, unchanged over the past 30 days, narrower than the loss of 12 cents reported in the year-ago quarter.

Snowflake’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 229.17%.

Snowflake Inc. Price and EPS Surprise

Snowflake Inc. price-eps-surprise | Snowflake Inc. Quote

Let’s see how things have shaped up before this announcement.

Factors to Note

Snowflake’s fiscal fourth-quarter results are expected to reflect gains from an expanding clientele and strong partner base.

The company reported 34% year-over-year growth in the number of customers, reaching 7,292 in the previous quarter. It added 28 Forbes Global 2000 customers in the prior quarter.

Snowflake signed 14 customers with $1 million in trailing 12-month product revenues in the previous quarter.

It had 287 customers (with more than $1 million in product revenues), up 94% year over year, in the fiscal third quarter.

Snowflake has also been benefiting from a strong partner base that includes the likes of Amazon, Cognizant and Dell Technologies.

What Our Model Indicates

Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.

Snowflake has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

---

More By This Author:

Zoom Video Communications Q4 Earnings And Revenues Beat Estimates
AMC Entertainment (AMC) To Post Q4 Earnings: What's In Store?
Why Investors Should Add Visa Stock To Their Portfolio