Yahoo Finance Snap (SNAP) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Snap (SNAP) closed at $63.57, marking a -0.81% move from the previous day. This change lagged the S&P 500's daily gain of 0.18%.
Coming into today, shares of the company behind Snapchat had gained 20.95% in the past month. In that same time, the Computer and Technology sector gained 6.46%, while the S&P 500 gained 2.43%.
Wall Street will be looking for positivity from SNAP as it approaches its next earnings report date. The company is expected to report EPS of -$0.02, up 77.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $838.21 million, up 84.56% from the prior-year quarter.
SNAP's full-year Zacks Consensus Estimates are calling for earnings of $0.23 per share and revenue of $3.9 billion. These results would represent year-over-year changes of +483.33% and +55.77%, respectively.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. SNAP is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SNAP has a Forward P/E ratio of 283.27 right now. For comparison, its industry has an average Forward P/E of 71.42, which means SNAP is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% 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.
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