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

Zacks Equity Research
·2 min read

Snap (SNAP) closed at $50.07 in the latest trading session, marking a +1.46% move from the prior day. This change outpaced the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.14%.

Coming into today, shares of the company behind Snapchat had gained 3.92% in the past month. In that same time, the Computer and Technology sector gained 4.51%, while the S&P 500 gained 3.19%.

SNAP will be looking to display strength as it nears its next earnings release. On that day, SNAP is projected to report earnings of $0.06 per share, which would represent year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $839.86 million, up 49.74% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.10 per share and revenue of $2.44 billion, which would represent changes of +37.5% and +42.21%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for SNAP. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP is holding a Zacks Rank of #3 (Hold) right now.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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