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Snap (SNAP) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

Snap (SNAP) closed at $16.91 in the latest trading session, marking a +0.48% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 0.11%.

Coming into today, shares of the company behind Snapchat had gained 4.66% in the past month. In that same time, the Computer and Technology sector gained 4.15%, while the S&P 500 gained 4.17%.

SNAP will be looking to display strength as it nears its next earnings release. On that day, SNAP is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 58.33%. Our most recent consensus estimate is calling for quarterly revenue of $437.59 million, up 46.99% from the year-ago period.

SNAP's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $1.69 billion. These results would represent year-over-year changes of +57.45% and +42.85%, respectively.

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It is also important to note the recent changes to analyst estimates for SNAP. These revisions help to show the ever-changing nature of near-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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP currently has a Zacks Rank of #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 40% 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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Zacks Investment Research