Snap Inc. (NYSE:SNAP) Expected to Earn Q1 2022 Earnings of ($0.16) Per Share

Snap Inc. (NYSE:SNAPGet Rating) – Stock analysts at Jefferies Financial Group issued their Q1 2022 earnings estimates for Snap in a research note issued to investors on Wednesday, April 20th. Jefferies Financial Group analyst B. Thill anticipates that the company will post earnings of ($0.16) per share for the quarter. Jefferies Financial Group also issued estimates for Snap’s Q2 2022 earnings at ($0.11) EPS, Q3 2022 earnings at ($0.08) EPS, Q4 2022 earnings at $0.00 EPS, FY2022 earnings at ($0.34) EPS and FY2023 earnings at $0.02 EPS.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group upped their price target on Snap from $40.00 to $46.00 and gave the stock a “hold” rating in a research note on Friday, February 4th. Zacks Investment Research cut Snap from a “hold” rating to a “sell” rating and set a $44.00 price target on the stock. in a research note on Tuesday, January 11th. JMP Securities reduced their price target on Snap from $65.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Friday. Benchmark reduced their price target on Snap from $50.00 to $40.00 in a research note on Friday. Finally, Citigroup raised Snap from a “neutral” rating to a “buy” rating and upped their price target for the stock from $41.00 to $50.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $54.26.

Shares of Snap stock opened at $29.42 on Friday. The company has a quick ratio of 5.70, a current ratio of 5.70 and a debt-to-equity ratio of 0.59. The company has a market cap of $47.79 billion, a PE ratio of -89.15 and a beta of 1.09. The business has a 50 day moving average of $35.42 and a 200 day moving average of $44.63. Snap has a 52 week low of $24.32 and a 52 week high of $83.34.

Snap (NYSE:SNAPGet Rating) last announced its earnings results on Thursday, April 21st. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.15. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. Snap had a negative return on equity of 16.48% and a negative net margin of 11.85%. The firm’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share.

In other news, insider Jeremi Gorman sold 10,285 shares of the business’s stock in a transaction on Friday, February 4th. The stock was sold at an average price of $40.00, for a total value of $411,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jerry James Hunter sold 63,623 shares of the business’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $39.86, for a total value of $2,536,012.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,243,234 shares of company stock valued at $47,018,853.

A number of hedge funds have recently made changes to their positions in SNAP. AdvisorNet Financial Inc grew its stake in Snap by 198.7% during the 1st quarter. AdvisorNet Financial Inc now owns 708 shares of the company’s stock worth $25,000 after buying an additional 471 shares during the last quarter. Manchester Capital Management LLC grew its stake in Snap by 64.7% during the 4th quarter. Manchester Capital Management LLC now owns 621 shares of the company’s stock worth $29,000 after buying an additional 244 shares during the last quarter. Assetmark Inc. grew its stake in Snap by 305.8% during the 3rd quarter. Assetmark Inc. now owns 418 shares of the company’s stock worth $31,000 after buying an additional 315 shares during the last quarter. Selective Wealth Management Inc. purchased a new stake in Snap during the 4th quarter valued at about $33,000. Finally, Cornerstone Advisory LLC purchased a new stake in Snap during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Snap Company Profile (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

Further Reading

Earnings History and Estimates for Snap (NYSE:SNAP)

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