Snap (SNAP) closed at $10.32 in the latest trading session, marking a -1.34% move from the prior day. This change was narrower than the S&P 500’s 1.72% loss on the day. Elsewhere, the Dow lost 1.62%, while the tech-heavy Nasdaq added 0.09%.
Coming into today, shares of the company behind Snapchat had lost 6.69% in the past month. In that same time, the Computer and Technology sector lost 11.99%, while the S&P 500 lost 9.09%.
Wall Street will be looking for positivity from Snap as it approaches its next earnings report date. In that report, analysts expect Snap to post earnings of -$0.02 per share. This would mark a year-over-year decline of 111.76%. Our most recent consensus estimate is calling for quarterly revenue of $1.1 billion, up 3.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0 per share and revenue of $4.63 billion, which would represent changes of -100% and +12.53%, respectively, from the prior year.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 3.02% higher within the past month. Snap is holding a Zacks Rank of #3 (Hold) right now.
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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