Equities analysts expect that Snap Inc (NYSE:SNAP) will post $282.74 million in sales for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Snap’s earnings. The highest sales estimate is $289.90 million and the lowest is $274.76 million. Snap posted sales of $207.94 million in the same quarter last year, which would indicate a positive year over year growth rate of 36%. The company is expected to issue its next quarterly earnings results on Tuesday, November 6th.
On average, analysts expect that Snap will report full-year sales of $1.15 billion for the current financial year, with estimates ranging from $1.13 billion to $1.18 billion. For the next year, analysts expect that the business will post sales of $1.58 billion per share, with estimates ranging from $1.27 billion to $1.79 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Snap.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, August 7th. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.18. Snap had a negative net margin of 155.31% and a negative return on equity of 49.79%. The company had revenue of $262.26 million during the quarter, compared to analyst estimates of $247.24 million.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Snap from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Cowen decreased their price objective on shares of Snap from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday, July 13th. Nomura assumed coverage on shares of Snap in a report on Wednesday, July 11th. They issued a “neutral” rating and a $13.00 price objective for the company. BTIG Research restated a “neutral” rating on shares of Snap in a report on Tuesday, August 7th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $12.00 price objective on shares of Snap in a report on Wednesday, August 8th. Eleven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.52.
In related news, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $13.08, for a total value of $327,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Evan Spiegel sold 1,520,640 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $10.57, for a total transaction of $16,073,164.80. Following the completion of the transaction, the chief executive officer now owns 81,400,642 shares of the company’s stock, valued at $860,404,785.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,375,218 shares of company stock valued at $38,429,235.
Several institutional investors have recently modified their holdings of SNAP. Quantbot Technologies LP purchased a new stake in Snap during the 1st quarter valued at about $134,000. Steward Partners Investment Advisory LLC grew its position in Snap by 188.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 10,041 shares of the company’s stock valued at $131,000 after purchasing an additional 6,556 shares during the last quarter. North Star Investment Management Corp. grew its position in Snap by 283.0% during the 2nd quarter. North Star Investment Management Corp. now owns 10,150 shares of the company’s stock valued at $133,000 after purchasing an additional 7,500 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in Snap during the 1st quarter valued at about $163,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Snap during the 1st quarter valued at about $165,000. Institutional investors own 22.29% of the company’s stock.
NYSE:SNAP traded down $0.11 during midday trading on Wednesday, reaching $9.18. 22,127,000 shares of the stock traded hands, compared to its average volume of 25,590,145. Snap has a 12 month low of $8.90 and a 12 month high of $21.22. The firm has a market capitalization of $11.75 billion, a P/E ratio of -4.41 and a beta of -2.84.
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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