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Snap (SNAP) Dips More Than Broader Markets: What You Should Know
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Snap (SNAP - Free Report) closed the most recent trading day at $10.23, moving -1.06% from the previous trading session. This change lagged the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq gained 3.16%.
Heading into today, shares of the company behind Snapchat had lost 2.91% over the past month, outpacing the Computer and Technology sector's loss of 3.13% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from Snap as it approaches its next earnings release. In that report, analysts expect Snap to post earnings of -$0.01 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, down 5.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.18 per share and revenue of $4.71 billion, which would represent changes of +5.88% and +2.38%, respectively, from the prior 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.34% higher. Snap is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Snap's current valuation metrics, including its Forward P/E ratio of 56.4. Its industry sports an average Forward P/E of 37.77, so we one might conclude that Snap is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Snap (SNAP) Dips More Than Broader Markets: What You Should Know
Snap (SNAP - Free Report) closed the most recent trading day at $10.23, moving -1.06% from the previous trading session. This change lagged the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq gained 3.16%.
Heading into today, shares of the company behind Snapchat had lost 2.91% over the past month, outpacing the Computer and Technology sector's loss of 3.13% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from Snap as it approaches its next earnings release. In that report, analysts expect Snap to post earnings of -$0.01 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, down 5.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.18 per share and revenue of $4.71 billion, which would represent changes of +5.88% and +2.38%, respectively, from the prior 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.34% higher. Snap is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Snap's current valuation metrics, including its Forward P/E ratio of 56.4. Its industry sports an average Forward P/E of 37.77, so we one might conclude that Snap is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.