Snap (SNAP) closed at $25.37 in the latest trading session, marking a -0.39% move from the prior day. This change was narrower than the S&P 500's 2.37% loss on the day. Elsewhere, the Dow lost 1.92%, while the tech-heavy Nasdaq lost 3.02%.
Coming into today, shares of the company behind Snapchat had gained 20.6% in the past month. In that same time, the Computer and Technology sector lost 2.69%, while the S&P 500 lost 2.31%.
Wall Street will be looking for positivity from SNAP as it approaches its next earnings report date. The company is expected to report EPS of -$0.07, down 75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $547.24 million, up 22.65% from the prior-year quarter.
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.
Any recent changes to analyst estimates for SNAP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 has moved 0.39% lower. SNAP currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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