-$0.14 EPS Expected for Snap Inc (SNAP) This Quarter

Wall Street analysts expect Snap Inc (NYSE:SNAP) to post earnings of ($0.14) per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Snap’s earnings, with estimates ranging from ($0.15) to ($0.12). Snap also posted earnings per share of ($0.14) during the same quarter last year. The firm is scheduled to issue its next earnings results on Tuesday, November 6th.

Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Snap.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating the 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 firm had revenue of $262.26 million during the quarter, compared to analyst estimates of $247.24 million.



Several equities analysts have recently commented on SNAP shares. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price target on shares of Snap in a research report on Wednesday, May 2nd. Evercore ISI lowered shares of Snap from an “in-line” rating to an “underperform” rating and set a $7.00 price target for the company. in a research report on Wednesday, May 2nd. Aegis lowered shares of Snap from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Cowen lowered their price target on shares of Snap from $14.00 to $12.00 and set an “underperform” rating for the company in a research report on Friday, April 27th. Finally, Zacks Investment Research upgraded shares of Snap from a “sell” rating to a “hold” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.85.

In other Snap news, CEO Evan Spiegel sold 1,465,171 shares of the company’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $11.46, for a total value of $16,790,859.66. Following the completion of the sale, the chief executive officer now directly owns 83,794,342 shares of the company’s stock, valued at approximately $960,283,159.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy R. Stone sold 8,919 shares of the company’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $13.18, for a total transaction of $117,552.42. Following the completion of the sale, the chief financial officer now directly owns 1,250,417 shares of the company’s stock, valued at $16,480,496.06. The disclosure for this sale can be found here. Insiders sold 3,133,881 shares of company stock valued at $36,127,978 in the last ninety days.

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. OppenheimerFunds Inc. lifted its holdings in Snap by 657.4% in the 1st quarter. OppenheimerFunds Inc. now owns 13,688,542 shares of the company’s stock valued at $217,237,000 after acquiring an additional 11,881,245 shares during the last quarter. First Trust Advisors LP acquired a new stake in Snap in the 2nd quarter valued at about $132,330,000. FMR LLC lifted its holdings in Snap by 18.4% in the 2nd quarter. FMR LLC now owns 24,968,882 shares of the company’s stock valued at $326,842,000 after acquiring an additional 3,886,373 shares during the last quarter. BlackRock Inc. lifted its holdings in Snap by 22.1% in the 2nd quarter. BlackRock Inc. now owns 15,367,441 shares of the company’s stock valued at $201,159,000 after acquiring an additional 2,779,756 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Snap by 44.7% in the 1st quarter. Allianz Asset Management GmbH now owns 7,675,255 shares of the company’s stock valued at $121,806,000 after acquiring an additional 2,372,137 shares during the last quarter. 20.56% of the stock is owned by institutional investors.

SNAP stock remained flat at $$12.31 during trading on Tuesday. 15,882,100 shares of the company’s stock traded hands, compared to its average volume of 19,982,464. Snap has a 12-month low of $10.50 and a 12-month high of $21.22.

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 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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