Snap (SNAP) Set to Announce Quarterly Earnings on Thursday

Snap (NYSE:SNAP) is scheduled to be releasing its earnings data after the market closes on Thursday, April 25th. Analysts expect Snap to post earnings of ($0.05) per share for the quarter. Snap has set its Q1 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, analysts expect Snap to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Snap Price Performance

Shares of NYSE SNAP opened at $10.90 on Thursday. The company has a market capitalization of $17.99 billion, a PE ratio of -13.13 and a beta of 1.13. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The firm has a fifty day simple moving average of $11.19 and a 200 day simple moving average of $12.71.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares in the company, valued at $5,474,582.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 2,442 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the transaction, the chief accounting officer now directly owns 493,084 shares in the company, valued at $5,423,924. The disclosure for this sale can be found here. In the last quarter, insiders sold 470,054 shares of company stock worth $5,279,729.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new stake in Snap during the fourth quarter worth $29,000. Tower Research Capital LLC TRC raised its stake in shares of Snap by 365.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock worth $47,000 after purchasing an additional 3,094 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Snap in the 1st quarter worth about $49,000. Harbour Investments Inc. boosted its holdings in shares of Snap by 539.5% in the 4th quarter. Harbour Investments Inc. now owns 6,843 shares of the company’s stock worth $61,000 after buying an additional 5,773 shares during the last quarter. Finally, Comerica Bank bought a new position in Snap during the third quarter valued at about $87,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNAP. Deutsche Bank Aktiengesellschaft raised Snap from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Susquehanna raised their price objective on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Morgan Stanley lowered their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 7th. Stifel Nicolaus cut their target price on shares of Snap from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.86.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.