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Snap (SNAP) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 mins read

In the latest trading session, Snap (SNAP) closed at $25.99, marking a +0.97% move from the previous day. This move outpaced the S&P 500's daily loss of 0.48%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq lost 0.29%.

Prior to today's trading, shares of the company behind Snapchat had gained 13.94% over the past month. This has outpaced the Computer and Technology sector's loss of 5.56% and the S&P 500's loss of 4.3% in that time.

Wall Street will be looking for positivity from SNAP as it approaches its next earnings report date. In that report, analysts expect SNAP to post earnings of -$0.07 per share. This would mark a year-over-year decline of 75%. Our most recent consensus estimate is calling for quarterly revenue of $547.24 million, up 22.65% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.25 per share and revenue of $2.18 billion, which would represent changes of -56.25% and +26.91%, respectively, from the prior year.

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.

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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% lower. SNAP is currently sporting 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 185, which puts it in the bottom 28% 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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