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Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

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Snap (SNAP)

Snap's flagship product, Snapchat, is a mobile camera application that helps people to communicate through short videos and images called Snaps. The application is one of the most popular and trendy messaging and social media applications in the United States. It is also growing rapidly in other international markets, such as India.

SNAP is a Zacks Rank #2 (Buy) stock, with a Growth Style Score of A and VGM Score of B. Earnings are expected to grow 166.7% year-over-year for the current fiscal year, with sales growth of 16.3%.

Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.05 to $0.24 per share. SNAP boasts an average earnings surprise of 93.6%.

On a historic basis, Snap has generated cash flow growth of 2.8%, and is expected to report cash flow expansion of 70.8% this year.

SNAP should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.

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Snap Inc. (SNAP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research