Snap (SNAP) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Snap (SNAP) closed at $5.65, marking a +1.25% move from the previous day. This move outpaced the S&P 500's daily gain of 0.01%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.45%.
Heading into today, shares of the company behind Snapchat had lost 7.77% over the past month, lagging the Computer and Technology sector's loss of 5.51% and the S&P 500's loss of 7.29% in that time.
Wall Street will be looking for positivity from SNAP as it approaches its next earnings report date. This is expected to be February 5, 2019. On that day, SNAP is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 38.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $375.24 million, up 31.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.52 per share and revenue of $1.17 billion. These totals would mark changes of +14.75% and +41.5%, respectively, from last year.
Any recent changes to analyst estimates for SNAP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SNAP is currently sporting a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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