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Snap (SNAP) Outpaces Stock Market Gains: What You Should Know

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Snap (SNAP - Free Report) closed the most recent trading day at $14.52, moving +1.54% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1.42%, while the tech-heavy Nasdaq added 1.4%.

Coming into today, shares of the company behind Snapchat had lost 9.89% in the past month. In that same time, the Computer and Technology sector gained 1.95%, while the S&P 500 gained 0.38%.

Wall Street will be looking for positivity from SNAP as it approaches its next earnings report date. This is expected to be October 22, 2019. 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 $1.70 billion. These results would represent year-over-year changes of +57.45% and +44.24%, respectively.

Investors should also note any recent changes to analyst estimates for SNAP. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. SNAP is currently a Zacks Rank #2 (Buy).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow SNAP in the coming trading sessions, be sure to utilize Zacks.com.


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