Yahoo Finance Snap (SNAP) Gains As Market Dips: What You Should Know
The latest trading session saw Snap (SNAP) ending at $15.67, denoting a +1.03% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.31%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq lost 1.09%.
Coming into today, shares of the company behind Snapchat had gained 1.91% in the past month. In that same time, the Computer and Technology sector gained 6.41%, while the S&P 500 gained 2.73%.
Investors will be eagerly watching for the performance of Snap in its upcoming earnings disclosure. On that day, Snap is projected to report earnings of $0.02 per share, which would represent year-over-year growth of 200%. Our most recent consensus estimate is calling for quarterly revenue of $1.25 billion, up 16.94% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.24 per share and a revenue of $5.35 billion, demonstrating changes of +166.67% and +16.25%, respectively, from the preceding year.
Any recent changes to analyst estimates for Snap should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.53% higher. Snap is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Snap is currently trading at a Forward P/E ratio of 64.63. This signifies a premium in comparison to the average Forward P/E of 30.05 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Snap Inc. (SNAP) : Free Stock Analysis Report
