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Snap (SNAP) Flat As Market Sinks: What You Should Know
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In the latest trading session, Snap (SNAP - Free Report) closed at $9.11, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
Coming into today, shares of the company behind Snapchat had lost 1.94% in the past month. In that same time, the Computer and Technology sector lost 1.17%, while the S&P 500 lost 2.35%.
The investment community will be paying close attention to the earnings performance of Snap in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. The company is expected to report EPS of -$0.04, down 150% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.11 billion, showing a 1.94% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0 per share and a revenue of $4.5 billion, representing changes of -100% and -2.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Snap. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Snap is carrying a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 67, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Flat As Market Sinks: What You Should Know
In the latest trading session, Snap (SNAP - Free Report) closed at $9.11, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
Coming into today, shares of the company behind Snapchat had lost 1.94% in the past month. In that same time, the Computer and Technology sector lost 1.17%, while the S&P 500 lost 2.35%.
The investment community will be paying close attention to the earnings performance of Snap in its upcoming release. The company is slated to reveal its earnings on October 24, 2023. The company is expected to report EPS of -$0.04, down 150% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.11 billion, showing a 1.94% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0 per share and a revenue of $4.5 billion, representing changes of -100% and -2.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Snap. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Snap is carrying a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 67, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.