Snap Inc. (SNAP) to Release Quarterly Earnings on Tuesday

Snap Inc. (NYSE:SNAP) will issue its quarterly earnings data after the market closes on Tuesday, November 7th. Analysts expect the company to announce earnings of ($0.31) per share for the quarter.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The business had revenue of $181.70 million during the quarter, compared to the consensus estimate of $186.49 million. The business’s quarterly revenue was up 153.1% on a year-over-year basis. On average, analysts expect Snap to post $-2.81 EPS for the current fiscal year and $-0.86 EPS for the next fiscal year.

Shares of Snap Inc. (SNAP) traded down 1.7213% during trading on Tuesday, reaching $15.4101. The company’s stock had a trading volume of 5,804,356 shares. Snap Inc. has a 52 week low of $11.28 and a 52 week high of $29.44. The company’s market cap is $18.45 billion. The stock’s 50 day moving average price is $14.90 and its 200 day moving average price is $16.76.

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In other news, VP Timothy Sehn sold 400,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.85, for a total transaction of $5,940,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Imran Khan sold 350,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $15.00, for a total value of $5,250,000.00. Following the sale, the insider now owns 9,946,464 shares of the company’s stock, valued at $149,196,960. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,133,598 shares of company stock valued at $29,704,362.

A number of equities research analysts have recently issued reports on the company. Monness Crespi & Hardt cut Snap from a “buy” rating to a “neutral” rating in a research note on Friday, August 11th. Bank of America Corporation reiterated a “neutral” rating and set a $17.00 price objective (down previously from $20.00) on shares of Snap in a research note on Friday, August 11th. Stifel Nicolaus dropped their price objective on Snap from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Summit Redstone reiterated a “sell” rating and set a $8.00 price objective (down previously from $10.00) on shares of Snap in a research note on Friday, August 11th. Finally, Cantor Fitzgerald upgraded Snap from a “neutral” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research note on Tuesday, August 15th. Eleven equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and fourteen have given a buy rating to the company. Snap has a consensus rating of “Hold” and an average target price of $18.14.

About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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