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

Brokerages expect Snap Inc (NYSE:SNAP) to post earnings of ($0.05) per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Snap’s earnings. The lowest EPS estimate is ($0.07) and the highest is $0.00. Snap posted earnings per share of ($0.12) during the same quarter last year, which would suggest a positive year over year growth rate of 58.3%. The business is scheduled to announce its next earnings report on Thursday, October 24th.

Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Snap.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. The firm 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%. Snap’s revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) earnings per share.

A number of research firms recently issued reports on SNAP. UBS Group raised Snap from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $16.00 in a report on Wednesday, July 24th. Citigroup lifted their target price on Snap from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Pivotal Research reaffirmed a “buy” rating and set a $20.50 target price on shares of Snap in a report on Wednesday, July 24th. Summit Insights raised Snap from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their target price on Snap from $13.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Three investment 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. The company currently has a consensus rating of “Hold” and an average price target of $14.88.

In other Snap news, insider Jared Grusd sold 61,534 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $11.31, for a total transaction of $695,949.54. Following the completion of the sale, the insider now directly owns 2,678,925 shares in the company, valued at approximately $30,298,641.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jerry James Hunter sold 107,370 shares of the firm’s 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 sale, the vice president now owns 1,918,693 shares of the company’s stock, valued at $21,719,604.76. 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.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC acquired a new stake in Snap during the 2nd quarter worth about $27,000. Atlas Capital Advisors LLC acquired a new stake in Snap during the 2nd quarter worth about $29,000. Catalyst Capital Advisors LLC boosted its position in Snap by 38.8% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock worth $34,000 after acquiring an additional 667 shares during the period. Valeo Financial Advisors LLC boosted its position in Snap by 400.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock worth $36,000 after acquiring an additional 2,000 shares during the period. Finally, Providence Capital Advisors LLC acquired a new stake in Snap during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 25.74% of the company’s stock.

NYSE:SNAP traded down $0.01 during mid-day trading on Friday, reaching $15.98. 25,770,500 shares of the stock were exchanged, compared to its average volume of 40,606,328. The business has a fifty day moving average price of $15.83 and a 200 day moving average price of $12.33. The firm has a market capitalization of $22.56 billion, a PE ratio of -16.47 and a beta of 1.10. Snap has a 1-year low of $4.82 and a 1-year high of $18.36. The company has a current ratio of 4.53, a quick ratio of 4.53 and a debt-to-equity ratio of 0.15.

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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Earnings History and Estimates for Snap (NYSE:SNAP)

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