Zacks: Brokerages Expect Snap Inc (SNAP) to Announce -$0.17 Earnings Per Share

Equities research analysts forecast that Snap Inc (NYSE:SNAP) will report earnings of ($0.17) per share for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Snap’s earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.19). Snap posted earnings of ($0.16) per share during the same quarter last year, which suggests a negative year over year growth rate of 6.3%. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, August 7th.

Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Snap.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, May 1st. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.16. The firm had revenue of $230.70 million for the quarter, compared to analysts’ expectations of $244.57 million. Snap had a negative return on equity of 49.23% and a negative net margin of 179.04%. The company’s revenue was up 54.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.31) EPS.

Several equities analysts have recently weighed in on SNAP shares. Credit Suisse Group increased their price target on Snap from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, April 20th. Morgan Stanley increased their price target on Snap from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Thursday, April 19th. Aegis reissued a “buy” rating and set a $12.00 price target (down from $18.00) on shares of Snap in a report on Tuesday, May 8th. Deutsche Bank upped their price objective on Snap to $15.00 and gave the stock a “hold” rating in a research note on Monday, April 30th. Finally, Moffett Nathanson upgraded Snap from a “sell” rating to a “neutral” rating and set a $15.00 price objective for the company in a research note on Monday, May 21st. Eleven analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.25.

In other Snap news, CEO Evan Spiegel sold 1,465,171 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $11.46, for a total value of $16,790,859.66. Following the completion of the sale, the chief executive officer now owns 83,794,342 shares in the company, valued at approximately $960,283,159.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $13.15, for a total value of $328,750.00. The disclosure for this sale can be found here. Insiders sold a total of 2,558,881 shares of company stock valued at $29,050,978 in the last quarter.

Hedge funds have recently modified their holdings of the business. Bamco Inc. NY boosted its holdings in shares of Snap by 225.0% during the 1st quarter. Bamco Inc. NY now owns 189,217 shares of the company’s stock valued at $3,003,000 after purchasing an additional 131,000 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Snap by 221.1% during the 1st quarter. Baird Financial Group Inc. now owns 137,632 shares of the company’s stock valued at $2,184,000 after purchasing an additional 94,764 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Snap by 23.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 66,632 shares of the company’s stock valued at $973,000 after purchasing an additional 12,537 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Snap during the 1st quarter valued at about $1,099,000. Finally, NEXT Financial Group Inc bought a new position in shares of Snap during the 1st quarter valued at about $163,000. Institutional investors and hedge funds own 20.69% of the company’s stock.

Shares of NYSE SNAP traded down $0.54 during midday trading on Friday, hitting $12.83. 28,281,921 shares of the stock traded hands, compared to its average volume of 26,405,443. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of -6.17 and a beta of -2.91. Snap has a one year low of $10.50 and a one year high of $21.22.

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 to 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 to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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