Snap (SNAP) closed the most recent trading day at $9.16, moving -1.4% from the previous trading session. This change lagged the S&P 500's daily gain of 0.84%. At the same time, the Dow added 0.96%, and the tech-heavy Nasdaq gained 0.81%.
Coming into today, shares of the company behind Snapchat had gained 1.42% in the past month. In that same time, the Computer and Technology sector gained 2.69%, while the S&P 500 gained 0.19%.
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 -$0.04, down 150% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.11 billion, down 1.94% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0 per share and revenue of $4.5 billion. These totals would mark changes of -100% and -2.13%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Snap. Recent revisions tend to reflect the latest near-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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.4% higher. Snap is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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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