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Here's Why Snap (SNAP) is a Strong Growth Stock

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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Snap (SNAP)

Snap's flagship product, Snapchat, is a mobile camera application that helps people to communicate through short videos and images called Snaps. The application is one of the most popular and trendy messaging and social media applications in the United States. It is also growing rapidly in other international markets, such as India.

SNAP is a Zacks Rank #2 (Buy) stock, with a Growth Style Score of A and VGM Score of B. Earnings are expected to grow 133.3% year-over-year for the current fiscal year, with sales growth of 15.7%.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.06 to $0.21 per share. SNAP boasts an average earnings surprise of 93.6%.

Looking at cash flow, Snap is expected to report cash flow growth of 70.8% this year; SNAP has generated cash flow growth of 2.8% over the past three to five years.

Investors should take the time to consider SNAP for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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Snap Inc. (SNAP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research