Snap (SNAP - Free Report) closed at $23.31 in the latest trading session, marking a -1.44% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.76%. At the same time, the Dow lost 1.45%, and the tech-heavy Nasdaq lost 1.99%.
Coming into today, shares of the company behind Snapchat had gained 8.19% in the past month. In that same time, the Computer and Technology sector gained 1.8%, while the S&P 500 gained 1.56%.
SNAP will be looking to display strength as it nears its next earnings release. In that report, analysts expect SNAP to post earnings of -$0.05 per share. This would mark a year-over-year decline of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $547.65 million, up 22.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $2.18 billion. These totals would mark changes of -18.75% and +26.87%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for SNAP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.