$187.93 Million in Sales Expected for Snap Inc. (SNAP) This Quarter
Equities research analysts predict that Snap Inc. (NYSE:SNAP) will post $187.93 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Snap’s earnings, with estimates ranging from $172.99 million to $194.80 million. The business is scheduled to report its next earnings results on Wednesday, August 9th.
According to Zacks, analysts expect that Snap will report full year sales of $187.93 million for the current financial year, with estimates ranging from $918.60 million to $1.10 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.95 billion per share, with estimates ranging from $1.71 billion to $2.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Snap.
Snap (NYSE:SNAP) last issued its earnings results on Wednesday, May 10th. The company reported ($2.31) EPS for the quarter, missing analysts’ consensus estimates of ($2.05) by $0.26. The business had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. The company’s quarterly revenue was up 285.6% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. Piper Jaffray Companies decreased their price target on shares of Snap from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 11th. Cantor Fitzgerald raised shares of Snap from an “underweight” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $17.00 in a research note on Thursday, May 11th. They noted that the move was a valuation call. Wells Fargo & Company assumed coverage on shares of Snap in a research note on Friday, March 31st. They set a “market perform” rating and a $21.00 price target on the stock. J P Morgan Chase & Co assumed coverage on shares of Snap in a research note on Monday, March 27th. They set a “neutral” rating and a $24.00 price target on the stock. Finally, Loop Capital reaffirmed a “hold” rating and set a $21.00 price target on shares of Snap in a research note on Thursday, April 6th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $21.84.
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Snap (NYSE:SNAP) opened at 17.88 on Thursday. Snap has a 52 week low of $17.56 and a 52 week high of $29.44. The stock’s market capitalization is $21.08 billion. The firm’s 50-day moving average is $20.73 and its 200-day moving average is $21.20.
Hedge funds have recently bought and sold shares of the stock. US Bancorp DE purchased a new stake in Snap during the first quarter worth about $101,000. WFG Advisors LP purchased a new stake in Snap during the first quarter worth about $109,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Snap during the first quarter worth about $158,000. Pacer Advisors Inc. purchased a new stake in Snap during the first quarter worth about $205,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Snap during the first quarter worth about $223,000. Institutional investors own 29.57% of the company’s stock.
Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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