In the latest trading session, Snap (SNAP) closed at $23.63, marking a -0.17% move from the previous day. This change was narrower than the S&P 500's 2.59% loss on the day. Elsewhere, the Dow lost 2.72%, while the tech-heavy Nasdaq lost 2.19%.
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 -$0.10, down 66.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $431.92 million, up 11.31% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.22 per share and revenue of $2.08 billion. These totals would mark changes of -37.5% and +20.99%, respectively, from last year.
It is also important to note the 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.
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 0.68% higher. SNAP currently has a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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