Wall Street brokerages forecast that Snap Inc (NYSE:SNAP) will post earnings of ($0.05) per share for the current quarter, Zacks reports. Eight analysts have made estimates for Snap’s earnings. The lowest EPS estimate is ($0.07) and the highest is $0.00. Snap reported earnings of ($0.12) per share in the same quarter last year, which indicates a positive year over year growth rate of 58.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, October 24th.

Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Snap.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million for the quarter, compared to analyst estimates of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS.

SNAP has been the topic of several research analyst reports. China Renaissance Securities assumed coverage on shares of Snap in a research report on Wednesday, May 29th. They issued a “hold” rating and a $12.00 price target on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $20.00 target price on shares of Snap in a research report on Wednesday, July 24th. SunTrust Banks lifted their target price on shares of Snap from $11.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Nomura lifted their target price on shares of Snap from $10.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their target price on shares of Snap from $13.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.88.

NYSE SNAP traded down $0.38 during midday trading on Friday, hitting $15.98. The company had a trading volume of 456,409 shares, compared to its average volume of 40,476,456. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.53 and a current ratio of 4.53. The firm has a market cap of $22.56 billion, a PE ratio of -16.46 and a beta of 1.10. The stock has a fifty day moving average of $15.78. Snap has a fifty-two week low of $4.82 and a fifty-two week high of $18.36.

In other news, General Counsel Michael J. O’sullivan sold 36,621 shares of Snap stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $11.28, for a total transaction of $413,084.88. Following the completion of the sale, the general counsel now owns 1,746,578 shares in the company, valued at approximately $19,701,399.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Evan Spiegel sold 2,780,306 shares of Snap stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $18.01, for a total transaction of $50,073,311.06. Following the sale, the chief executive officer now owns 69,958,498 shares of the company’s stock, valued at approximately $1,259,952,548.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,528,129 shares of company stock valued at $85,695,159.

Large investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of Snap during the 2nd quarter worth approximately $27,000. Atlas Capital Advisors LLC acquired a new position in Snap during the second quarter valued at approximately $29,000. Providence Capital Advisors LLC acquired a new position in Snap during the first quarter valued at approximately $32,000. Catalyst Capital Advisors LLC grew its holdings in Snap by 38.8% during the second quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock valued at $34,000 after purchasing an additional 667 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in Snap by 400.0% during the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 25.74% of the company’s stock.

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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Earnings History and Estimates for Snap (NYSE:SNAP)

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