Snap (SNAP) closed the most recent trading day at $11.17, moving -1.11% from the previous trading session. This change lagged the S&P 500's 0.57% gain on the day. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, added 0.99%.
Coming into today, shares of the company behind Snapchat had lost 9.68% in the past month. In that same time, the Computer and Technology sector gained 3.63%, while the S&P 500 gained 3.01%.
Wall Street will be looking for positivity from SNAP as it approaches its next earnings report date. This is expected to be November 6, 2018. The company is expected to report EPS of -$0.14, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $282.74 million, up 35.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.56 per share and revenue of $1.15 billion, which would represent changes of +8.2% and +39.91%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SNAP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 6.4% higher within the past month. SNAP is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
To follow SNAP in the coming trading sessions, be sure to utilize Zacks.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.