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Snap (SNAP) closed at $38.04 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 4.81%.
Prior to today's trading, shares of the company behind Snapchat had lost 16.01% over the past month. This has lagged the Computer and Technology sector's loss of 2.99% and the S&P 500's gain of 0.64% in that time.
Snap will be looking to display strength as it nears its next earnings release. On that day, Snap is projected to report earnings of $0.09 per share, which would represent no growth from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.19 billion, up 30.83% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Snap. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 3.83% lower within the past month. Snap currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Snap is holding a Forward P/E ratio of 72.36. This represents a premium compared to its industry's average Forward P/E of 50.54.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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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