Snap (SNAP - Free Report) closed at $19.15 in the latest trading session, marking a +0.82% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.09%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq gained 0.06%.
Heading into today, shares of the company behind Snapchat had gained 16.29% over the past month, outpacing the Computer and Technology sector's gain of 4.55% and the S&P 500's gain of 1.26% in that time.
Wall Street will be looking for positivity from SNAP as it approaches its next earnings report date. This is expected to be February 4, 2020. On that day, SNAP is projected to report earnings of $0 per share, which would represent year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $560.39 million, up 43.75% from the prior-year quarter.
Any recent changes to analyst estimates for SNAP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.26% lower within the past month. SNAP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, SNAP is holding a Forward P/E ratio of 854.55. For comparison, its industry has an average Forward P/E of 57.68, which means SNAP is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 99, putting it in the top 39% 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.