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Snap (SNAP) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Snap (SNAP - Free Report) closed at $10.69, marking a -0.47% move from the previous day. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the company behind Snapchat had lost 3.16% over the past month. This has lagged the Computer and Technology sector's gain of 10.18% and the S&P 500's gain of 7.71% 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 April 27, 2023. On that day, Snap is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, down 5.42% from the year-ago period.
SNAP's full-year Zacks Consensus Estimates are calling for earnings of $0.18 per share and revenue of $4.71 billion. These results would represent year-over-year changes of +5.88% and +2.38%, respectively.
It is also important to note the 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.
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.
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 currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Snap currently has a Forward P/E ratio of 58.58. For comparison, its industry has an average Forward P/E of 42.1, which means Snap is trading at a premium to the group.
It is also worth noting that SNAP currently has a PEG ratio of 1.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.71 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% 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.
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Snap (SNAP) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Snap (SNAP - Free Report) closed at $10.69, marking a -0.47% move from the previous day. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the company behind Snapchat had lost 3.16% over the past month. This has lagged the Computer and Technology sector's gain of 10.18% and the S&P 500's gain of 7.71% 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 April 27, 2023. On that day, Snap is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, down 5.42% from the year-ago period.
SNAP's full-year Zacks Consensus Estimates are calling for earnings of $0.18 per share and revenue of $4.71 billion. These results would represent year-over-year changes of +5.88% and +2.38%, respectively.
It is also important to note the 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.
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.
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 currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Snap currently has a Forward P/E ratio of 58.58. For comparison, its industry has an average Forward P/E of 42.1, which means Snap is trading at a premium to the group.
It is also worth noting that SNAP currently has a PEG ratio of 1.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.71 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% 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.