Equities research analysts forecast that Snap Inc (NYSE:SNAP) will report sales of $243.80 million for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Snap’s earnings, with estimates ranging from $224.02 million to $256.30 million. Snap posted sales of $149.65 million during the same quarter last year, which suggests a positive year over year growth rate of 62.9%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 9th.
On average, analysts expect that Snap will report full year sales of $243.80 million for the current fiscal year, with estimates ranging from $1.23 billion to $1.41 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.99 billion per share, with estimates ranging from $1.59 billion to $2.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Snap.
Several brokerages have recently weighed in on SNAP. Summit Redstone raised Snap from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a research note on Wednesday, February 7th. Oppenheimer increased their price target on Snap from $14.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Vetr cut Snap from a “strong-buy” rating to a “buy” rating and set a $22.73 price target for the company. in a research note on Thursday, February 8th. Aegis reissued a “hold” rating and issued a $18.00 price target (up previously from $13.00) on shares of Snap in a research note on Thursday, February 8th. Finally, Pivotal Research reissued a “sell” rating and issued a $10.00 price target on shares of Snap in a research note on Thursday, February 8th. Fourteen analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $18.25.
In other news, CEO Evan Spiegel sold 739,663 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $13.63, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $12.38, for a total value of $309,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,459,734 shares of company stock worth $77,236,360.
Hedge funds have recently bought and sold shares of the company. WFG Advisors LP lifted its holdings in shares of 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 purchasing an additional 2,537 shares in the last quarter. First Manhattan Co. lifted its holdings in shares of Snap by 384.5% in the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after purchasing an additional 6,056 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Snap by 967.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock valued at $116,000 after purchasing an additional 7,255 shares in the last quarter. Nelson Roberts Investment Advisors LLC lifted its holdings in shares of Snap by 10,033.0% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock valued at $147,000 after purchasing an additional 10,033 shares in the last quarter. Finally, Aperio Group LLC bought a new position in shares of Snap in the fourth quarter valued at approximately $149,000. Institutional investors own 18.98% of the company’s stock.
Shares of Snap (SNAP) opened at $20.42 on Friday. The firm has a market capitalization of $24,590.00 and a PE ratio of -6.17. Snap has a one year low of $11.28 and a one year high of $29.44.
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Snap Company Profile
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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