Snap (SNAP) Announces Earnings Results

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.

TRADEMARK VIOLATION NOTICE: This piece of content was first reported by Enterprise Leader and is the property of of Enterprise Leader. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark law. The original version of this piece of content can be read at https://theenterpriseleader.com/2019/02/06/snap-snap-announces-earnings-results.html.

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.

Further Reading: Trading Strategy Examples and Plans

Earnings History for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply