Snap (SNAP - Free Report) closed at $24.86 in the latest trading session, marking a +1.59% move from the prior day. This change outpaced the S&P 500's 0.46% loss on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 1.25%.
Heading into today, shares of the company behind Snapchat had gained 12.4% over the past month, outpacing the Computer and Technology sector's gain of 2.23% and the S&P 500's gain of 1% in that time.
Investors will be hoping for strength from SNAP as it approaches 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%. Our most recent consensus estimate is calling for quarterly revenue of $547.65 million, up 22.74% from the year-ago period.
SNAP's full-year Zacks Consensus Estimates are calling for earnings of -$0.19 per share and revenue of $2.18 billion. These results would represent year-over-year changes of -18.75% and +26.87%, respectively.
It is also important to note the recent changes to analyst estimates for SNAP. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.