$1.22 Billion in Sales Expected for Snap Inc. (NYSE:SNAP) This Quarter

Analysts predict that Snap Inc. (NYSE:SNAPGet Rating) will post $1.22 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Snap’s earnings, with estimates ranging from $1.20 billion to $1.25 billion. Snap posted sales of $982.11 million in the same quarter last year, which suggests a positive year over year growth rate of 24.2%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Snap will report full year sales of $5.53 billion for the current financial year, with estimates ranging from $5.21 billion to $5.74 billion. For the next financial year, analysts anticipate that the business will report sales of $7.76 billion, with estimates ranging from $6.53 billion to $8.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Snap.

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

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of Snap from $46.00 to $40.00 and set a “hold” rating for the company in a report on Friday, April 22nd. Wedbush decreased their price objective on shares of Snap from $40.00 to $34.00 in a report on Tuesday, April 26th. Stifel Nicolaus decreased their price objective on shares of Snap from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price target on shares of Snap in a report on Friday, February 4th. Finally, MKM Partners reduced their price target on shares of Snap from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Snap has a consensus rating of “Buy” and a consensus price target of $52.14.

In other Snap news, CTO Robert C. Murphy sold 900,000 shares of the stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $29.55, for a total transaction of $26,595,000.00. Following the sale, the chief technology officer now directly owns 75,110,002 shares in the company, valued at $2,219,500,559.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 8,185 shares of the stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $40.28, for a total transaction of $329,691.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,393,234 shares of company stock worth $80,926,353.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in shares of Snap by 9.3% in the 3rd quarter. Jennison Associates LLC now owns 45,038,008 shares of the company’s stock valued at $3,326,958,000 after purchasing an additional 3,833,307 shares in the last quarter. Lone Pine Capital LLC boosted its stake in shares of Snap by 47.9% in the 4th quarter. Lone Pine Capital LLC now owns 33,478,637 shares of the company’s stock valued at $1,574,500,000 after purchasing an additional 10,839,980 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Snap by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,070,978 shares of the company’s stock valued at $1,113,293,000 after purchasing an additional 563,111 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Snap by 123.8% in the 4th quarter. Baillie Gifford & Co. now owns 11,709,169 shares of the company’s stock valued at $550,682,000 after purchasing an additional 6,477,834 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Snap by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 9,710,964 shares of the company’s stock valued at $455,816,000 after purchasing an additional 452,936 shares in the last quarter. Institutional investors own 54.85% of the company’s stock.

Shares of NYSE SNAP opened at $28.46 on Monday. The stock has a market cap of $46.23 billion, a P/E ratio of -79.06 and a beta of 1.09. The firm has a 50 day moving average price of $34.14 and a 200 day moving average price of $42.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.70 and a current ratio of 7.19. Snap has a 52-week low of $24.32 and a 52-week high of $83.34.

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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