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Snap (SNAP - Free Report) closed at $16.42 in the latest trading session, marking a +1.3% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Prior to today's trading, shares of the company behind Snapchat had lost 5.92% over the past month. This has lagged the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94% in that time.
Investors will be eagerly watching for the performance of Snap in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 6, 2024. The company's upcoming EPS is projected at $0.06, signifying a 57.14% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 5.52% from the year-ago period.
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 a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Snap is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Snap's current valuation metrics, including its Forward P/E ratio of 120.57. This denotes a premium relative to the industry's average Forward P/E of 33.82.
It is also worth noting that SNAP currently has a PEG ratio of 8.74. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. SNAP's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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Why Snap (SNAP) Outpaced the Stock Market Today
Snap (SNAP - Free Report) closed at $16.42 in the latest trading session, marking a +1.3% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Prior to today's trading, shares of the company behind Snapchat had lost 5.92% over the past month. This has lagged the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94% in that time.
Investors will be eagerly watching for the performance of Snap in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 6, 2024. The company's upcoming EPS is projected at $0.06, signifying a 57.14% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 5.52% from the year-ago period.
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 a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Snap is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Snap's current valuation metrics, including its Forward P/E ratio of 120.57. This denotes a premium relative to the industry's average Forward P/E of 33.82.
It is also worth noting that SNAP currently has a PEG ratio of 8.74. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. SNAP's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.