Snap (SNAP - Free Report) closed at $8.36 in the latest trading session, marking a -1.59% move from the prior day. This change lagged the S&P 500's 0.36% gain on the day. Elsewhere, the Dow gained 0.73%, while the tech-heavy Nasdaq lost 0.11%.
Coming into today, shares of the company behind Snapchat had lost 23.47% in the past month. In that same time, the Computer and Technology sector lost 0.17%, while the S&P 500 gained 0.73%.
SNAP will be looking to display strength as it nears its next earnings release, which is expected to be November 6, 2018. The company is expected to report EPS of -$0.14, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $282.74 million, up 35.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.56 per share and revenue of $1.15 billion, which would represent changes of +8.2% and +39.79%, respectively, from the prior year.
Any recent changes to analyst estimates for SNAP should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.25% higher within the past month. SNAP is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 30% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.