Snap (SNAP - Free Report) closed at $17.04 in the latest trading session, marking a -0.47% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 1.47%.
Prior to today's trading, shares of the company behind Snapchat had gained 6.27% over the past month. This has outpaced the Computer and Technology sector's gain of 5.21% and the S&P 500's gain of 5.2% in that time.
Investors will be hoping for strength from SNAP as it approaches its next earnings release. On that day, SNAP is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 58.33%. Meanwhile, our latest consensus estimate is calling for revenue of $437.59 million, up 46.99% from the prior-year quarter.
SNAP's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $1.69 billion. These results would represent year-over-year changes of +57.45% and +42.85%, respectively.
Any recent changes to analyst estimates for SNAP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant within the past month. SNAP currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.