$293.28 Million in Sales Expected for Snap One Holdings Corp. (NASDAQ:SNPO) This Quarter

Wall Street analysts expect that Snap One Holdings Corp. (NASDAQ:SNPOGet Rating) will post $293.28 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Snap One’s earnings. The highest sales estimate is $296.70 million and the lowest is $286.82 million. Snap One reported sales of $253.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.8%. The company is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Snap One will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $1.13 billion to $1.16 billion. For the next year, analysts anticipate that the business will report sales of $1.26 billion, with estimates ranging from $1.24 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Snap One.

Snap One (NASDAQ:SNPOGet Rating) last released its quarterly earnings results on Tuesday, March 22nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $273.49 million for the quarter, compared to analyst estimates of $261.27 million.

Several research firms recently commented on SNPO. Morgan Stanley decreased their target price on Snap One from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 23rd. Truist Financial reduced their price target on shares of Snap One from $25.00 to $21.00 in a research report on Friday, March 25th. JPMorgan Chase & Co. cut their target price on shares of Snap One from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, March 23rd. Finally, Zacks Investment Research raised shares of Snap One from a “sell” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snap One has an average rating of “Buy” and an average price target of $22.38.

Snap One stock traded up $1.02 during trading hours on Monday, reaching $12.42. 101,429 shares of the company’s stock traded hands, compared to its average volume of 80,428. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 2.24. Snap One has a fifty-two week low of $9.95 and a fifty-two week high of $24.50. The firm has a market capitalization of $942.43 million and a price-to-earnings ratio of -26.43. The firm’s 50 day moving average is $14.65 and its 200-day moving average is $17.96.

A number of hedge funds have recently added to or reduced their stakes in SNPO. Indaba Capital Management L.P. bought a new position in shares of Snap One during the third quarter valued at approximately $50,010,000. BlackRock Inc. bought a new position in shares of Snap One during the third quarter valued at approximately $9,728,000. Summit Creek Advisors LLC bought a new position in shares of Snap One during the fourth quarter valued at approximately $9,971,000. Brookfield Asset Management Inc. bought a new stake in shares of Snap One during the third quarter valued at approximately $4,168,000. Finally, Geode Capital Management LLC bought a new stake in shares of Snap One during the third quarter valued at approximately $3,964,000. 93.11% of the stock is owned by institutional investors.

Snap One Company Profile (Get Rating)

Snap One Holdings Corp. provides smart living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.

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