Zacks: Brokerages Anticipate Snap Inc (SNAP) Will Announce Earnings of -$0.17 Per Share

Brokerages expect Snap Inc (NYSE:SNAP) to announce earnings of ($0.17) per share for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Snap’s earnings, with estimates ranging from ($0.19) to ($0.14). Snap reported earnings per share of ($0.20) in the same quarter last year, which would indicate a positive year over year growth rate of 15%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, May 1st.

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

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Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.06. Snap had a negative return on equity of 100.64% and a negative net margin of 417.61%. The company had revenue of $285.69 million during the quarter, compared to analyst estimates of $251.74 million.

A number of brokerages have issued reports on SNAP. Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, February 7th. Susquehanna Bancshares lowered Snap from a “neutral” rating to a “sell” rating in a research report on Thursday, February 8th. Deutsche Bank reiterated a “hold” rating and set a $13.00 price target on shares of Snap in a research report on Monday, January 22nd. Vetr lowered Snap from a “strong-buy” rating to a “buy” rating and set a $20.88 price objective for the company. in a report on Wednesday, February 21st. Finally, Raymond James Financial restated an “underperform” rating on shares of Snap in a report on Friday, January 12th. Twelve analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Snap presently has a consensus rating of “Hold” and an average price target of $17.25.

Shares of SNAP stock opened at $14.25 on Friday. Snap has a 1 year low of $11.28 and a 1 year high of $23.57. The firm has a market cap of $17,657.00 and a price-to-earnings ratio of -6.85.

In related news, Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $14.11, for a total transaction of $352,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Lynton sold 29,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.45, for a total value of $506,050.00. The disclosure for this sale can be found here. Insiders have sold 5,696,121 shares of company stock worth $104,018,878 over the last ninety days.

A number of large investors have recently bought and sold shares of SNAP. Coatue Management LLC raised its position in Snap by 16.1% during the fourth quarter. Coatue Management LLC now owns 27,390,619 shares of the company’s stock valued at $400,176,000 after buying an additional 3,791,168 shares during the period. EMS Capital LP acquired a new position in Snap during the fourth quarter valued at $41,200,000. BlackRock Inc. raised its position in Snap by 17.8% during the fourth quarter. BlackRock Inc. now owns 11,648,770 shares of the company’s stock valued at $170,188,000 after buying an additional 1,762,106 shares during the period. Schf GPE LLC acquired a new position in Snap during the fourth quarter valued at $23,779,000. Finally, Allianz Asset Management GmbH raised its position in Snap by 17.1% during the fourth quarter. Allianz Asset Management GmbH now owns 5,303,118 shares of the company’s stock valued at $77,479,000 after buying an additional 774,113 shares during the period. 18.55% of the stock is currently owned by hedge funds and other institutional investors.

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About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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Earnings History and Estimates for Snap (NYSE:SNAP)

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