Brokerages Expect Snap Inc. (NYSE:SNAP) Will Post Earnings of $0.01 Per Share

Equities analysts forecast that Snap Inc. (NYSE:SNAPGet Rating) will report earnings of $0.01 per share for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Snap’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.03. Snap posted earnings per share of $0.10 during the same quarter last year, which would suggest a negative year-over-year growth rate of 90%. The company is expected to issue its next earnings results on Monday, January 1st.

Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Snap.

Snap (NYSE:SNAPGet Rating) last released its quarterly earnings data on Thursday, April 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). Snap had a negative return on equity of 16.37% and a negative net margin of 12.71%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The business’s revenue was up 38.1% compared to the same quarter last year.

Several research analysts have issued reports on SNAP shares. Oppenheimer dropped their price objective on Snap from $75.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, February 4th. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 target price on shares of Snap in a research note on Friday, February 4th. Atlantic Securities lowered their target price on Snap from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, February 4th. Royal Bank of Canada lowered their target price on Snap from $42.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Snap in a research note on Friday, March 11th. They issued a “buy” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Snap currently has an average rating of “Buy” and a consensus price target of $52.14.

Snap stock opened at $28.46 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 7.19 and a quick ratio of 5.70. The stock has a fifty day moving average price of $34.14 and a two-hundred day moving average price of $42.73. Snap has a 52-week low of $24.32 and a 52-week high of $83.34. The firm has a market capitalization of $46.23 billion, a P/E ratio of -79.06 and a beta of 1.09.

In related news, CEO Evan Spiegel sold 250,000 shares of Snap stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $29.25, for a total value of $7,312,500.00. Following the sale, the chief executive officer now owns 4,327,844 shares of the company’s stock, valued at approximately $126,589,437. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Robert C. Murphy sold 950,000 shares of Snap stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $38.15, for a total value of $36,242,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,393,234 shares of company stock worth $80,926,353.

A number of institutional investors have recently made changes to their positions in the stock. Sawtooth Solutions LLC raised its position in Snap by 4.1% in the 3rd quarter. Sawtooth Solutions LLC now owns 4,793 shares of the company’s stock valued at $354,000 after buying an additional 187 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Snap by 7.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,292 shares of the company’s stock worth $243,000 after purchasing an additional 216 shares during the last quarter. B. Riley Wealth Management Inc. increased its position in shares of Snap by 2.1% during the 3rd quarter. B. Riley Wealth Management Inc. now owns 11,051 shares of the company’s stock worth $816,000 after purchasing an additional 224 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Snap by 0.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 31,308 shares of the company’s stock worth $2,313,000 after purchasing an additional 227 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of 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 purchasing an additional 244 shares during the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Snap (NYSE:SNAP)

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