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Snap (SNAP) Flat As Market Sinks: What You Should Know

Zacks Equity Research
Updated
Does FireEye (FEYE) have what it takes to be a top stock pick for momentum investors? Let's find out.

Snap (SNAP) closed the most recent trading day at $6.81, making no change from the previous trading session. This change was narrower than the S&P 500's 0.04% loss on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.48%.

Coming into today, shares of the company behind Snapchat had lost 26.06% in the past month. In that same time, the Computer and Technology sector lost 6.5%, while the S&P 500 lost 4.53%.

SNAP will be looking to display strength as it nears its next earnings release, which is expected to be October 25, 2018. The company is expected to report EPS of -$0.14, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $283.54 million, up 36.36% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.55 per share and revenue of $1.15 billion, which would represent changes of +9.84% and +39.89%, respectively, from the prior year.

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Investors should also note any recent changes to analyst estimates for SNAP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 1.04% higher. SNAP is currently a Zacks Rank #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 51, putting it in the top 20% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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