Yahoo Finance Snap (SNAP) Stock Sinks As Market Gains: What You Should Know
Snap (SNAP) closed the latest trading day at $10.56, indicating a -0.28% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.4%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.6%.
The the stock of company behind Snapchat has risen by 15.36% in the past month, leading the Computer and Technology sector's gain of 0.91% and the S&P 500's gain of 1.71%.
Market participants will be closely following the financial results of Snap in its upcoming release. The company's upcoming EPS is projected at $0.05, signifying a 150% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.35 billion, up 13.98% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.21 per share and a revenue of $5.35 billion, signifying shifts of +133.33% and +16.08%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snap. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.7% higher within the past month. Snap is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Snap is holding a Forward P/E ratio of 49.83. This valuation marks a premium compared to its industry's average Forward P/E of 30.41.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Snap Inc. (SNAP) : Free Stock Analysis Report
