Equities analysts expect that Snap Inc (NYSE:SNAP) will announce sales of $436.33 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Snap’s earnings, with the highest sales estimate coming in at $443.70 million and the lowest estimate coming in at $430.20 million. Snap posted sales of $297.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 46.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 24th.
On average, analysts expect that Snap will report full year sales of $1.68 billion for the current financial year, with estimates ranging from $1.52 billion to $1.74 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.30 billion, with estimates ranging from $2.17 billion to $2.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Snap.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The firm had revenue of $388.02 million during the quarter, compared to analysts’ expectations of $358.16 million. During the same period in the prior year, the company earned ($0.14) EPS. The firm’s revenue was up 48.0% on a year-over-year basis.
A number of equities research analysts have recently issued reports on SNAP shares. SunTrust Banks upped their target price on shares of Snap from $11.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Vertical Group lowered shares of Snap from a “mixed” rating to a “negative” rating in a research note on Thursday, April 18th. Zacks Investment Research lowered shares of Snap from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Moffett Nathanson restated a “neutral” rating and issued a $10.00 target price (up previously from $8.00) on shares of Snap in a research note on Monday, July 1st. Finally, Citigroup upped their target price on shares of Snap from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $14.88.
In related news, CEO Evan Spiegel sold 2,780,306 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $18.01, for a total value of $50,073,311.06. Following the completion of the sale, the chief executive officer now owns 69,958,498 shares in the company, valued at approximately $1,259,952,548.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 36,621 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $11.28, for a total transaction of $413,084.88. Following the completion of the sale, the general counsel now owns 1,746,578 shares of the company’s stock, valued at approximately $19,701,399.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,528,129 shares of company stock valued at $85,695,159.
Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Snap by 8.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,403 shares of the company’s stock worth $203,000 after buying an additional 1,450 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in Snap in the 1st quarter worth approximately $115,000. KCL Capital L.P. purchased a new stake in Snap in the 1st quarter worth approximately $12,122,000. Meitav Dash Investments Ltd. purchased a new stake in Snap in the 1st quarter worth approximately $123,000. Finally, Filament LLC lifted its position in Snap by 61.0% in the 1st quarter. Filament LLC now owns 20,117 shares of the company’s stock worth $221,000 after buying an additional 7,625 shares in the last quarter. Institutional investors and hedge funds own 25.74% of the company’s stock.
SNAP stock traded down $0.38 during trading on Monday, reaching $15.98. The stock had a trading volume of 456,409 shares, compared to its average volume of 40,476,456. Snap has a 1-year low of $4.82 and a 1-year high of $18.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. The firm has a market capitalization of $22.56 billion, a P/E ratio of -16.46 and a beta of 1.10. The company has a fifty day moving average of $15.78.
Snap Company Profile
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.
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