Snap (SNAP) closed the most recent trading day at $10.68, moving +0.09% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.71%. Meanwhile, the Dow experienced a rise of 1.03%, and the technology-dominated Nasdaq saw an increase of 0.6%.

Shares of the company behind Snapchat have appreciated by 23.5% over the course of the past month, outperforming the Computer and Technology sector's gain of 9.96% and the S&P 500's gain of 6.41%.

Investors will be eagerly watching for the performance of Snap in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 29, 2024. The company is predicted to post an EPS of $0.05, indicating a 150% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.35 billion, showing a 13.98% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.21 per share and revenue of $5.35 billion, indicating changes of +133.33% and +16.08%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Snap. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

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. Over the past month, the Zacks Consensus EPS estimate has shifted 1.7% upward. Snap is holding a Zacks Rank of #4 (Sell) right now.

Looking at valuation, Snap is presently trading at a Forward P/E ratio of 50.21. This expresses a premium compared to the average Forward P/E of 31.5 of its industry.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.

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.