Snap (SNAP - Free Report) closed at $6.28 in the latest trading session, marking a -1.88% move from the prior day. This move lagged the S&P 500's daily gain of 0.48%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.8%.
Prior to today's trading, shares of the company behind Snapchat had gained 11.3% over the past month. This has outpaced the Computer and Technology sector's loss of 1.5% and the S&P 500's loss of 2.09% in that time.
SNAP will be looking to display strength as it nears its next earnings release, which is expected to be February 5, 2019. In that report, analysts expect SNAP to post earnings of -$0.08 per share. This would mark year-over-year growth of 38.46%. Meanwhile, our latest consensus estimate is calling for revenue of $376.64 million, up 31.84% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for SNAP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 43, putting it in the top 17% 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.