Brokerages Anticipate Snap Inc (NYSE:SNAP) to Announce -$0.10 EPS

Equities analysts expect that Snap Inc (NYSE:SNAP) will post earnings per share of ($0.10) for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Snap’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.14). Snap reported earnings of ($0.06) per share in the same quarter last year, which would indicate a negative year over year growth rate of 66.7%. The firm is scheduled to report its next earnings results on Tuesday, July 28th.

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

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

A number of analysts have issued reports on SNAP shares. JPMorgan Chase & Co. lifted their target price on shares of Snap from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Argus raised shares of Snap from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, March 12th. Morgan Stanley boosted their target price on shares of Snap from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. ValuEngine lowered shares of Snap from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Goldman Sachs Group boosted their target price on shares of Snap from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $20.08.

In other Snap news, Director Michael Lynton sold 168,102 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $22.00, for a total transaction of $3,698,244.00. Following the transaction, the director now directly owns 77,086 shares in the company, valued at approximately $1,695,892. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 80,128 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $21.21, for a total transaction of $1,699,514.88. Following the transaction, the chief financial officer now owns 1,534,829 shares in the company, valued at $32,553,723.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,287,609 shares of company stock worth $154,195,151.

Hedge funds have recently made changes to their positions in the company. Capital Square LLC bought a new stake in shares of Snap in the 1st quarter valued at about $27,000. Moser Wealth Advisors LLC bought a new stake in shares of Snap in the 4th quarter valued at about $28,000. Capital Bank & Trust Co bought a new stake in Snap during the 4th quarter worth approximately $36,000. Synovus Financial Corp increased its stake in Snap by 2,335.8% during the 1st quarter. Synovus Financial Corp now owns 3,264 shares of the company’s stock worth $39,000 after purchasing an additional 3,130 shares in the last quarter. Finally, Trustcore Financial Services LLC increased its stake in Snap by 73.0% during the 1st quarter. Trustcore Financial Services LLC now owns 3,895 shares of the company’s stock worth $46,000 after purchasing an additional 1,643 shares in the last quarter. 39.48% of the stock is owned by institutional investors.

NYSE SNAP traded down $0.50 during trading on Thursday, reaching $23.22. The company’s stock had a trading volume of 18,479,500 shares, compared to its average volume of 30,632,168. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $34.54 billion, a PE ratio of -31.81 and a beta of 1.79. The business has a 50-day moving average price of $20.11 and a 200-day moving average price of $16.54. Snap has a 1-year low of $7.89 and a 1-year high of $24.90.

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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