$431.92 Million in Sales Expected for Snap Inc (NYSE:SNAP) This Quarter

Wall Street analysts expect Snap Inc (NYSE:SNAP) to report $431.92 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Snap’s earnings. The highest sales estimate is $455.30 million and the lowest is $398.67 million. Snap reported sales of $388.02 million in the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The firm is scheduled to report its next earnings report on Tuesday, July 28th.

According to Zacks, analysts expect that Snap will report full-year sales of $2.08 billion for the current fiscal year, with estimates ranging from $1.94 billion to $2.18 billion. For the next financial year, analysts anticipate that the business will report sales of $2.90 billion, with estimates ranging from $2.59 billion to $3.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Snap.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, April 21st. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.12. The company had revenue of $462.50 million for the quarter, compared to the consensus estimate of $420.01 million. Snap had a negative return on equity of 46.64% and a negative net margin of 55.40%. Snap’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share.

Several brokerages have recently commented on SNAP. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price objective on shares of Snap in a research report on Friday, June 19th. Credit Suisse Group lowered their price objective on Snap from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, April 20th. Deutsche Bank boosted their price objective on Snap from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. boosted their price objective on Snap from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Loop Capital boosted their price objective on Snap from $21.00 to $25.00 in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. Snap presently has a consensus rating of “Buy” and a consensus target price of $20.08.

In related news, Director Michael Lynton sold 168,102 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $22.00, for a total value of $3,698,244.00. Following the completion of the sale, the director now owns 77,086 shares in the company, valued at $1,695,892. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeremi Gorman sold 55,294 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $21.12, for a total value of $1,167,809.28. Following the completion of the sale, the insider now owns 2,423,850 shares of the company’s stock, valued at approximately $51,191,712. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,287,609 shares of company stock worth $154,195,151.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Snap by 6.6% in the 4th quarter. Principal Financial Group Inc. now owns 21,946 shares of the company’s stock valued at $358,000 after acquiring an additional 1,358 shares during the period. Victory Capital Management Inc. increased its position in shares of Snap by 0.5% in the 4th quarter. Victory Capital Management Inc. now owns 463,057 shares of the company’s stock valued at $7,562,000 after acquiring an additional 2,412 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Snap by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,881,667 shares of the company’s stock valued at $30,728,000 after acquiring an additional 68,636 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Snap by 309.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 8,271 shares of the company’s stock valued at $135,000 after acquiring an additional 6,251 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of Snap by 185.4% in the 4th quarter. Private Advisor Group LLC now owns 49,339 shares of the company’s stock valued at $806,000 after acquiring an additional 32,052 shares during the period. Hedge funds and other institutional investors own 39.48% of the company’s stock.

NYSE SNAP traded down $0.50 on Friday, hitting $23.22. 18,479,500 shares of the company traded hands, compared to its average volume of 30,632,168. The business’s 50 day moving average price is $20.11 and its 200-day moving average price is $16.54. Snap has a 52-week low of $7.89 and a 52-week high of $24.90. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of -31.81 and a beta of 1.79. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.56.

About Snap

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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