Snap Inc (SNAP) Expected to Post Q3 2018 Earnings of ($0.31) Per Share

Snap Inc (NYSE:SNAP) – Stock analysts at Oppenheimer issued their Q3 2018 earnings per share (EPS) estimates for Snap in a report issued on Wednesday. Oppenheimer analyst J. Helfstein expects that the company will earn ($0.31) per share for the quarter. Oppenheimer currently has a “Outperform” rating and a $19.00 target price on the stock. Oppenheimer also issued estimates for Snap’s Q4 2018 earnings at ($0.30) EPS.

SNAP has been the subject of several other reports. Barclays raised shares of Snap from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $18.00 in a research note on Tuesday, December 5th. Bank of America raised shares of Snap from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday. Susquehanna Bancshares downgraded shares of Snap from a “neutral” rating to a “sell” rating in a research note on Thursday. Evercore ISI assumed coverage on shares of Snap in a research note on Tuesday, December 5th. They issued an “underperform” rating and a $7.00 price target for the company. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $13.00 price target on shares of Snap in a research note on Monday, January 22nd. Fourteen research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.25.

Shares of Snap (SNAP) opened at $18.80 on Friday. Snap has a 52 week low of $11.28 and a 52 week high of $29.44.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.17. Snap had a negative net margin of 417.61% and a negative return on equity of 97.08%. The firm had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. The firm’s revenue for the quarter was up 62.2% on a year-over-year basis.

In related news, CFO Andrew Vollero sold 94,781 shares of the business’s stock in a transaction dated Saturday, February 17th. The shares were sold at an average price of $18.51, for a total transaction of $1,754,396.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Evan Spiegel sold 739,663 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $13.63, for a total transaction of $10,081,606.69. Following the transaction, the chief executive officer now owns 85,744,509 shares in the company, valued at $1,168,697,657.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,230,407 shares of company stock worth $32,578,428.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WFG Advisors LP boosted its stake in Snap by 52.4% in the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after acquiring an additional 2,537 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Snap by 12.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 24,255 shares of the company’s stock valued at $354,000 after acquiring an additional 2,675 shares during the last quarter. Rhumbline Advisers boosted its stake in Snap by 22.9% in the third quarter. Rhumbline Advisers now owns 22,900 shares of the company’s stock valued at $333,000 after acquiring an additional 4,260 shares during the last quarter. IFP Advisors Inc boosted its stake in Snap by 30.7% in the third quarter. IFP Advisors Inc now owns 20,605 shares of the company’s stock valued at $300,000 after acquiring an additional 4,838 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Snap by 41.2% in the second quarter. Prudential Financial Inc. now owns 16,800 shares of the company’s stock valued at $299,000 after acquiring an additional 4,900 shares during the last quarter. Hedge funds and other institutional investors own 18.97% of the company’s stock.

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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.

Earnings History and Estimates for Snap (NYSE:SNAP)

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