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In the latest market close, Snap (SNAP - Free Report) reached $16.50, with a +0.73% movement compared to the previous day. This change outpaced the S&P 500's 0.1% gain on the day. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.28%.
Prior to today's trading, shares of the company behind Snapchat had gained 5.07% over the past month. This has lagged the Computer and Technology sector's gain of 8.41% and outpaced the S&P 500's gain of 4.08% in that time.
Investors will be eagerly watching for the performance of Snap in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. The company's upcoming EPS is projected at $0.02, signifying a 200% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.25 billion, indicating a 16.94% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.24 per share and a revenue of $5.35 billion, representing changes of +166.67% and +16.25%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Snap. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 has shifted 1.53% upward. At present, Snap boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Snap is at present trading with a Forward P/E ratio of 68.25. This signifies a premium in comparison to the average Forward P/E of 29.89 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Snap (SNAP) Rises Higher Than Market: Key Facts
In the latest market close, Snap (SNAP - Free Report) reached $16.50, with a +0.73% movement compared to the previous day. This change outpaced the S&P 500's 0.1% gain on the day. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.28%.
Prior to today's trading, shares of the company behind Snapchat had gained 5.07% over the past month. This has lagged the Computer and Technology sector's gain of 8.41% and outpaced the S&P 500's gain of 4.08% in that time.
Investors will be eagerly watching for the performance of Snap in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. The company's upcoming EPS is projected at $0.02, signifying a 200% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.25 billion, indicating a 16.94% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.24 per share and a revenue of $5.35 billion, representing changes of +166.67% and +16.25%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Snap. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 has shifted 1.53% upward. At present, Snap boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Snap is at present trading with a Forward P/E ratio of 68.25. This signifies a premium in comparison to the average Forward P/E of 29.89 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.