Snap (NYSE:SNAP) released its earnings results on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.15, Bloomberg Earnings reports. Snap had a negative return on equity of 49.42% and a negative net margin of 131.39%. The firm had revenue of $389.82 million during the quarter, compared to analysts’ expectations of $378.90 million. During the same quarter last year, the business posted ($0.13) earnings per share. The firm’s revenue was up 36.4% on a year-over-year basis. Snap updated its Q1 2019 guidance to EPS.
Shares of Snap stock opened at $7.04 on Wednesday. Snap has a 12 month low of $4.82 and a 12 month high of $21.22. The company has a market cap of $8.95 billion, a P/E ratio of -3.38 and a beta of 0.77.
Several analysts recently issued reports on SNAP shares. Bank of America cut Snap from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. Goldman Sachs Group cut Snap from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $6.00 in a research report on Friday, January 4th. Jefferies Financial Group cut their target price on Snap from $11.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, October 26th. Cowen upgraded Snap from an “underperform” rating to a “market perform” rating and set a $6.00 target price for the company in a research report on Thursday, January 10th. Finally, BTIG Research upgraded Snap from a “sell” rating to a “neutral” rating in a research report on Thursday, December 20th. Five equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and five have assigned a buy rating to the stock. Snap currently has a consensus rating of “Hold” and an average price target of $10.43.
In other news, CFO Timothy R. Stone sold 13,034 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $6.47, for a total value of $84,329.98. Following the completion of the sale, the chief financial officer now directly owns 1,193,197 shares of the company’s stock, valued at approximately $7,719,984.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremi Gorman sold 19,022 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $6.46, for a total value of $122,882.12. Following the completion of the sale, the insider now directly owns 3,230,448 shares of the company’s stock, valued at $20,868,694.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,879,877 shares of company stock valued at $11,955,617.
Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new stake in shares of Snap in the 4th quarter valued at approximately $102,000. Sigma Planning Corp bought a new stake in shares of Snap during the 4th quarter worth approximately $56,000. Exane Derivatives lifted its stake in shares of Snap by 9.8% during the 4th quarter. Exane Derivatives now owns 134,539 shares of the company’s stock worth $741,000 after acquiring an additional 12,000 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of Snap during the 4th quarter worth approximately $55,000. Finally, KBC Group NV lifted its stake in shares of Snap by 371.2% during the 4th quarter. KBC Group NV now owns 108,083 shares of the company’s stock worth $595,000 after acquiring an additional 85,143 shares during the last quarter. 24.14% of the stock is owned by institutional investors and hedge funds.
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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 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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