Snap Inc (NYSE:SNAP) Expected to Announce Earnings of -$0.05 Per Share

Wall Street analysts expect Snap Inc (NYSE:SNAP) to announce earnings per share of ($0.05) for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Snap’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at $0.00. Snap reported earnings per share of ($0.12) in the same quarter last year, which would suggest a positive year over year growth rate of 58.3%. The company is expected to announce its next earnings results on Thursday, October 24th.

Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Snap.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. The company had revenue of $388.02 million for the quarter, compared to analyst estimates of $358.16 million. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. The company’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share.

SNAP has been the topic of a number of research analyst reports. Rosenblatt Securities initiated coverage on Snap in a report on Tuesday, July 23rd. They set a “buy” rating and a $18.00 price target on the stock. Wedbush raised their price target on Snap from $12.25 to $14.75 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Stifel Nicolaus lowered Snap from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $20.00 target price on shares of Snap in a report on Wednesday, July 24th. Finally, SunTrust Banks lifted their target price on Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.88.

Shares of SNAP traded down $0.01 during trading hours on Friday, reaching $15.98. 25,770,500 shares of the company’s stock traded hands, compared to its average volume of 40,606,328. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of -16.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. Snap has a twelve month low of $4.82 and a twelve month high of $18.36. The business’s fifty day simple moving average is $15.83 and its two-hundred day simple moving average is $12.33.

In related news, VP Jerry James Hunter sold 107,370 shares of Snap stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $11.32, for a total value of $1,215,428.40. Following the transaction, the vice president now owns 1,918,693 shares of the company’s stock, valued at approximately $21,719,604.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jared Grusd sold 61,534 shares of Snap stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $11.31, for a total value of $695,949.54. Following the completion of the transaction, the insider now directly owns 2,678,925 shares in the company, valued at approximately $30,298,641.75. The disclosure for this sale can be found here. Insiders sold a total of 5,491,508 shares of company stock worth $85,282,074 in the last three months.

Institutional investors and hedge funds have recently modified their holdings of the stock. KCL Capital L.P. lifted its holdings in shares of Snap by 13.6% during the 2nd quarter. KCL Capital L.P. now owns 1,250,000 shares of the company’s stock valued at $17,875,000 after buying an additional 150,000 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in shares of Snap during the 2nd quarter valued at about $17,375,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Snap by 437.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 233,531 shares of the company’s stock valued at $3,340,000 after buying an additional 190,098 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Snap by 107.8% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 326,831 shares of the company’s stock valued at $4,674,000 after buying an additional 169,578 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Snap by 6.6% during the 2nd quarter. California Public Employees Retirement System now owns 401,800 shares of the company’s stock valued at $5,746,000 after buying an additional 24,900 shares during the last quarter. 25.74% of the stock is currently owned by hedge funds and other institutional investors.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

Further Reading: How is a price target determined?

Get a free copy of the Zacks research report on Snap (SNAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit