Equities analysts expect Snap Inc (NYSE:SNAP) to announce sales of $560.39 million for the current quarter, according to Zacks. Eight analysts have made estimates for Snap’s earnings, with the lowest sales estimate coming in at $554.62 million and the highest estimate coming in at $568.30 million. Snap posted sales of $389.82 million in the same quarter last year, which suggests a positive year over year growth rate of 43.8%. The business is expected to announce its next quarterly earnings report on Tuesday, February 4th.
On average, analysts expect that Snap will report full year sales of $1.72 billion for the current financial year, with estimates ranging from $1.70 billion to $1.73 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.35 billion, with estimates ranging from $2.26 billion to $2.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Snap.
Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.14. The company had revenue of $446.20 million during the quarter, compared to analyst estimates of $436.00 million. Snap had a negative return on equity of 44.16% and a negative net margin of 63.75%. The firm’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share.
Several equities research analysts recently issued reports on the company. Deutsche Bank lifted their price objective on Snap from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on Snap from $13.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Citigroup lifted their price objective on 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. JPMorgan Chase & Co. raised Snap from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $20.00 in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC raised Snap from an “underperform” rating to a “hold” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and fifteen have assigned a buy rating to the company. Snap currently has an average rating of “Hold” and a consensus target price of $16.84.
In other news, CTO Robert C. Murphy sold 698,913 shares of Snap stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $14.34, for a total value of $10,022,412.42. Following the transaction, the chief technology officer now owns 86,977,075 shares in the company, valued at $1,247,251,255.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jerry James Hunter sold 117,782 shares of Snap stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $16.10, for a total value of $1,896,290.20. Following the completion of the transaction, the vice president now owns 1,614,425 shares in the company, valued at approximately $25,992,242.50. The disclosure for this sale can be found here. Insiders have sold 2,834,733 shares of company stock worth $43,918,901 in the last 90 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. First Allied Advisory Services Inc. purchased a new position in Snap during the 3rd quarter valued at about $169,000. Rational Advisors LLC purchased a new position in Snap during the 3rd quarter valued at about $718,000. Banco Santander S.A. purchased a new position in Snap during the 3rd quarter valued at about $203,000. D.A. Davidson & CO. increased its holdings in Snap by 9.8% during the 3rd quarter. D.A. Davidson & CO. now owns 16,836 shares of the company’s stock valued at $266,000 after purchasing an additional 1,500 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its holdings in Snap by 942.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 19,800 shares of the company’s stock valued at $313,000 after purchasing an additional 17,900 shares during the period. Hedge funds and other institutional investors own 27.08% of the company’s stock.
NYSE:SNAP traded up $0.20 during trading hours on Monday, hitting $14.39. 13,117,773 shares of the company’s stock traded hands, compared to its average volume of 28,323,357. The firm has a market cap of $19.82 billion, a P/E ratio of -14.84 and a beta of 1.10. Snap has a 52 week low of $4.82 and a 52 week high of $18.36. The business’s fifty day simple moving average is $14.72 and its two-hundred day simple moving average is $14.44. The company has a quick ratio of 7.25, a current ratio of 7.25 and a debt-to-equity ratio of 0.50.
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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