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Snap (SNAP) Stock Moves -0.93%: What You Should Know
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Snap (SNAP - Free Report) ended the recent trading session at $9.60, demonstrating a -0.93% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.
The company behind Snapchat's shares have seen an increase of 7.67% over the last month, surpassing the Computer and Technology sector's loss of 0.34% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of Snap in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be -$0.04, reflecting a 150% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.11 billion, indicating a 2.07% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0 per share and revenue of $4.49 billion, indicating changes of -100% and -2.36%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Snap. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snap presently features a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Snap (SNAP) Stock Moves -0.93%: What You Should Know
Snap (SNAP - Free Report) ended the recent trading session at $9.60, demonstrating a -0.93% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.
The company behind Snapchat's shares have seen an increase of 7.67% over the last month, surpassing the Computer and Technology sector's loss of 0.34% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of Snap in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be -$0.04, reflecting a 150% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.11 billion, indicating a 2.07% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0 per share and revenue of $4.49 billion, indicating changes of -100% and -2.36%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Snap. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snap presently features a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.