Snap (SNAP) Ascends While Market Falls: Some Facts to Note

Snap (SNAP) closed at $11.20 in the latest trading session, marking a +0.18% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.04%. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq depreciated by 0.05%.Shares of the company behind Snapchat witnessed a loss of 3.7% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.93% and the S&P 500's gain of 1.05%.The investment community will be paying close attention to the earnings performance of Snap in its upcoming release. The company is forecasted to report an EPS of $0.14, showcasing a 75% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.55 billion, indicating a 13.99% upward movement from the same quarter last year.SNAP's full-year Zacks Consensus Estimates are calling for earnings of $0.25 per share and revenue of $5.36 billion. These results would represent year-over-year changes of +177.78% and +16.28%, respectively.Investors should also note any recent changes to analyst estimates for Snap. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Snap is carrying a Zacks Rank of #3 (Hold).Looking at its valuation, Snap is holding a Forward P/E ratio of 44.52. Its industry sports an average Forward P/E of 33.27, so one might conclude that Snap is trading at a premium comparatively.The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 28, this industry ranks in the top 12% of all industries, numbering over 250.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks