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Snap (SNAP) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Snap (SNAP - Free Report) closed at $52.09, marking a -0.52% move from the previous day. This change lagged the S&P 500's 0.21% loss on the day. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, added 0.51%.
Prior to today's trading, shares of the company behind Snapchat had gained 15.69% over the past month. This has outpaced the Computer and Technology sector's gain of 6.68% and the S&P 500's gain of 4% in that time.
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 $0.06, up 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $839.86 million, up 49.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.10 per share and revenue of $2.44 billion. These totals would mark changes of +37.5% and +42.21%, 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 31% 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.
To follow SNAP in the coming trading sessions, be sure to utilize Zacks.com.
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Snap (SNAP) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Snap (SNAP - Free Report) closed at $52.09, marking a -0.52% move from the previous day. This change lagged the S&P 500's 0.21% loss on the day. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, added 0.51%.
Prior to today's trading, shares of the company behind Snapchat had gained 15.69% over the past month. This has outpaced the Computer and Technology sector's gain of 6.68% and the S&P 500's gain of 4% in that time.
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 $0.06, up 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $839.86 million, up 49.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.10 per share and revenue of $2.44 billion. These totals would mark changes of +37.5% and +42.21%, 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 31% 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.
To follow SNAP in the coming trading sessions, be sure to utilize Zacks.com.