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Snap (SNAP) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
Updated
SNE vs. DLB: Which Stock Is the Better Value Option?

In the latest trading session, Snap (SNAP) closed at $9.14, marking a -0.71% move from the previous day. The stock lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.51%.

Prior to today's trading, shares of the company behind Snapchat had lost 19.21% over the past month. This has lagged the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 2.79% in that time.

SNAP will be looking to display strength as it nears its next earnings release, which is expected to be November 6, 2018. The company is expected to report EPS of -$0.14, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $282.74 million, up 35.97% from the year-ago period.

SNAP's full-year Zacks Consensus Estimates are calling for earnings of -$0.56 per share and revenue of $1.15 billion. These results would represent year-over-year changes of +8.2% and +39.79%, respectively.

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Investors might also notice recent changes to analyst estimates for SNAP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. SNAP is currently a Zacks Rank #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 36% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow SNAP in the coming trading sessions, be sure to utilize Zacks.com.


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