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Snap (SNAP) Stock Sinks As Market Gains: Here's Why
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Snap (SNAP - Free Report) closed the latest trading day at $16.32, indicating a -0.06% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 0.36%.
Coming into today, shares of the company behind Snapchat had lost 2.68% in the past month. In that same time, the Computer and Technology sector gained 4.29%, while the S&P 500 gained 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Snap in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. The company's upcoming EPS is projected at $0.06, signifying a 57.14% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.37 billion, indicating a 5.52% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Snap. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been no change in the Zacks Consensus EPS estimate. At present, Snap boasts a Zacks Rank of #2 (Buy).
In terms of valuation, Snap is presently being traded at a Forward P/E ratio of 121.46. This signifies a premium in comparison to the average Forward P/E of 35.77 for its industry.
Meanwhile, SNAP's PEG ratio is currently 8.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Snap (SNAP) Stock Sinks As Market Gains: Here's Why
Snap (SNAP - Free Report) closed the latest trading day at $16.32, indicating a -0.06% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 0.36%.
Coming into today, shares of the company behind Snapchat had lost 2.68% in the past month. In that same time, the Computer and Technology sector gained 4.29%, while the S&P 500 gained 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Snap in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. The company's upcoming EPS is projected at $0.06, signifying a 57.14% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.37 billion, indicating a 5.52% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Snap. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been no change in the Zacks Consensus EPS estimate. At present, Snap boasts a Zacks Rank of #2 (Buy).
In terms of valuation, Snap is presently being traded at a Forward P/E ratio of 121.46. This signifies a premium in comparison to the average Forward P/E of 35.77 for its industry.
Meanwhile, SNAP's PEG ratio is currently 8.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.