In the latest market close, Snap (SNAP) reached $11.29, with a -0.53% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.51%. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 0.28%.

The company behind Snapchat's shares have seen an increase of 0.98% over the last month, surpassing the Computer and Technology sector's gain of 0.79% and falling behind the S&P 500's gain of 2.87%.

Market participants will be closely following the financial results of Snap in its upcoming release. The company plans to announce its earnings on February 4, 2025. The company's earnings per share (EPS) are projected to be $0.14, reflecting a 75% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.55 billion, indicating a 13.77% upward movement from the same quarter last year.

Investors might also notice recent changes to analyst estimates for Snap. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.96% decrease. Snap is currently a Zacks Rank #3 (Hold).

From a valuation perspective, Snap is currently exchanging hands at a Forward P/E ratio of 26.77. This indicates a discount in contrast to its industry's Forward P/E of 30.86.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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