In the latest trading session, Snap (SNAP) closed at $64.79, marking a -1.55% move from the previous day. This change lagged the S&P 500's 0.35% gain on the day.Prior to today's trading, shares of the company behind Snapchat had gained 2.68% over the past month. This has lagged the Computer and Technology sector's gain of 5.62% and the S&P 500's gain of 3.64% in that time.SNAP will be looking to display strength as it nears its next earnings release, which is expected to be July 22, 2021. On that day, SNAP is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 77.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $838.21 million, up 84.56% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.23 per share and revenue of $3.9 billion. These totals would mark changes of +483.33% and +55.77%, respectively, from last year.It is also important to note the recent changes to analyst estimates for SNAP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SNAP is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, SNAP is holding a Forward P/E ratio of 290.87. This represents a premium compared to its industry's average Forward P/E of 62.08.The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Snap Inc. (SNAP): Free Stock Analysis Report To read this article on Zacks.com click here.