Here's Why Snap (SNAP) Gained But Lagged the Market Today

Company Performance - Snap's stock closed at $10.49, with a daily increase of +0.29%, underperforming the S&P 500's gain of 0.4% [1] - Over the past month, Snap's shares have increased by 3.87%, lagging behind the Computer and Technology sector's gain of 4.88% but outperforming the S&P 500's gain of 3.76% [1] Upcoming Financial Results - Snap is set to announce its earnings on October 29, 2024, with projected earnings of $0.05 per share, indicating a year-over-year growth of 150% [1] - The consensus estimate for Snap's revenue is $1.35 billion, reflecting a year-over-year increase of 13.98% [1] Annual Estimates - For the annual period, the Zacks Consensus Estimates predict earnings of $0.21 per share and revenue of $5.35 billion, representing increases of +133.33% and +16.08% respectively from the previous year [2] Analyst Sentiment - Recent changes to analyst estimates for Snap indicate positive revisions, suggesting optimism regarding the company's business and profitability [2] - The Zacks Rank system, which assesses stock performance, currently ranks Snap at 4 (Sell) [3] Valuation Metrics - Snap's Forward P/E ratio stands at 49.22, which is a premium compared to the industry's average Forward P/E of 32.25 [3] - The Internet - Software industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 59, placing it in the top 24% of over 250 industries [3]