The wind has been at Snap's (SNAP) - Get Report back this year -- can the rally continue?

Snap shares are up 142% in 2019, closing at $14.15 on Monday. Out of 29 estimates in FactSet, analysts are anticipating a GAAP loss of 22 cents per share and a non-GAAP loss of 10 cents when Snap reports results Tuesday after the bell.

It's been more than a year now since Snap's widely-panned redesign, which led to a decline in users in 2018. Snap appears to have mostly recovered from that misstep, with user trends stabilizing. Analysts have pointed to signs of user growth in recent months, with app downloads apparently increasing and along with evidence of healthy engagement.

Additionally, Snap released a rebuilt Android app in April, which may kickstart growth in international markets. On Snap's last earnings call in late April, CFO Lara Sweet told investors that early results on the new Android app were "promising" -- and investors will likely look for positive news on how the new app has been received so far.

Revenue trends were also positive in April, with Snap posting 39% year-over-year revenue growth at $320 million for the quarter.

Now, with Snap seemingly out of the doghouse in terms of user metrics, investors may turn their attention to signs of a profit, or a clearer timeline for when it can achieve cash flow breakeven: "we believe investors are far more interested in how management qualitatively frames the path toward profitability," wrote Evercore ISI's Kevin Rippey in a recent report.

Nonetheless, he cautioned, the level of attention Snap receives also means that earnings commentary can cut both ways.

"The amount of scrutiny around SNAP means that any hint of disappointment could lead shares materially lower with near equal probability than a large beat could drive shares meaningfully higher," Rippey added.