Snap (SNAP) wrapped up the latest trading session at $16.42, displaying a positive move of +1.3% from the previous day. Notably, the stock outperformed the S&P 500's daily gain of 1.23%, while the Dow experienced an increase of 1.06%, and the Nasdaq, known for its tech-heavy focus, saw a rise of 1.7%.
However, leading up to today's trading, shares of the company behind Snapchat faced a decline of 5.92% over the past month. This downturn trailed behind the Computer and Technology sector's gain of 1.98% and the S&P 500's 0.94% increase during the same period.
Investors are now eagerly anticipating Snap's upcoming earnings disclosure, scheduled for February 6, 2024. The projected upcoming earnings per share (EPS) is $0.06, indicating a significant 57.14% drop compared to the same quarter last year. Simultaneously, the latest consensus estimate anticipates quarterly revenue to reach $1.37 billion, reflecting a 5.52% increase from the year-ago period.
In addition to earnings expectations, investors should keep an eye on any recent changes to analyst estimates for Snap. These revisions often mirror the evolving nature of short-term business trends, with positive changes signaling analysts' favorable views on the company's business health and profitability.
Research indicates that these estimate adjustments are closely tied to imminent stock price performance. To leverage this, the Zacks Rank was developed, a unique model that incorporates estimate changes and offers a practical rating system. Currently, Snap holds a Zacks Rank of #2 (Buy).
Considering valuation metrics, Snap is presently trading at a Forward P/E ratio of 120.57, reflecting a premium compared to the industry's average Forward P/E of 33.82.
It's also noteworthy that SNAP currently has a PEG ratio of 8.74, similar to the widely accepted P/E ratio but incorporating the company's projected earnings growth. As of yesterday's close, the Internet - Software industry, to which SNAP belongs, had an average PEG ratio of 1.73.
Belonging to the Computer and Technology sector, the Internet - Software industry stands at a Zacks Industry Rank of 53, placing it in the top 22% of all 250+ industries. The Zacks Industry Rank assesses industry group strength by calculating the average Zacks Rank of individual stocks within the groups.
Research indicates that top 50% rated industries often outperform the bottom half by a factor of 2 to 1. For comprehensive information on these metrics and more, you can visit Zacks.com.
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