Here's Why Snap (SNAP) is a Strong Momentum Stock
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Snap (SNAP)
Snap's flagship product, Snapchat, is a mobile camera application that helps people to communicate through short videos and images called Snaps. The application is one of the most popular and trendy messaging and social media applications in the United States. It is also growing rapidly in other international markets, such as India.
SNAP boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Snap has seen some interesting price action recently; the stock is down 6.7% over the past one week and up 5.3% over the past four weeks. And in the last one-year period, SNAP has lost 12.9%. As for the stock's trading volume, 37,037,956 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for SNAP, while the Zacks Consensus Estimate has increased $0.04 to $0.24 per share. SNAP also boasts an average earnings surprise of 58.6%.
Investors should take the time to consider SNAP for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Snap Inc. (SNAP) : Free Stock Analysis Report