Advertisement
Australia markets closed

  • ALL ORDS

    8,013.80
    +11.00 (+0.14%)
     

  • ASX 200

    7,767.50
    +7.90 (+0.10%)
     

  • AUD/USD

    0.6669
    +0.0018 (+0.27%)
     

  • OIL

    81.46
    -0.28 (-0.34%)
     

  • GOLD

    2,336.90
    +0.30 (+0.01%)
     

  • Bitcoin AUD

    91,075.27
    -961.48 (-1.04%)
     

  • CMC Crypto 200

    1,268.38
    -15.45 (-1.20%)
     

  • AUD/EUR

    0.6221
    +0.0015 (+0.24%)
     

  • AUD/NZD

    1.0950
    +0.0023 (+0.21%)
     

  • NZX 50

    11,717.43
    -117.59 (-0.99%)
     

  • NASDAQ

    19,682.87
    -106.16 (-0.54%)
     

  • FTSE

    8,164.12
    -15.56 (-0.19%)
     

  • Dow Jones

    39,118.86
    -45.20 (-0.12%)
     

  • DAX

    18,235.45
    +24.90 (+0.14%)
     

  • Hang Seng

    17,718.61
    +2.14 (+0.01%)
     

  • NIKKEI 225

    39,583.08
    +241.54 (+0.61%)
     

Why Snap (SNAP) is a Top Momentum Stock for the Long-Term

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.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

ADVERTISEMENT

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 Momentum Style Score of B and VGM Score of B. Shares are up 5.8% over the past one week and up 9.1% over the past four weeks. SNAP has gained 45.6% in the last one-year period as well. Looking at trading volume, an average of 17,642,026 shares exchanged hands over the last 20 trading days.

Momentum investors also pay close attention to a company's earnings. For SNAP, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $0.24 per share for 2024. SNAP boasts an average earnings surprise of 93.6%.

SNAP should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Snap Inc. (SNAP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research