Snap Inc (SNAP) Expected to Post Q3 2018 Earnings of ($0.31) Per Share

Snap Inc (NYSE:SNAP) – Equities research analysts at Oppenheimer issued their Q3 2018 EPS estimates for shares of Snap in a research note issued on Wednesday. Oppenheimer analyst J. Helfstein anticipates that the company will earn ($0.31) per share for the quarter. Oppenheimer has a “Outperform” rating and a $19.00 price target on the stock. Oppenheimer also issued estimates for Snap’s Q4 2018 earnings at ($0.30) EPS.

SNAP has been the subject of a number of other reports. Bank of America raised Snap from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday. SunTrust Banks reaffirmed a “sell” rating and set a $10.00 price target on shares of Snap in a research report on Thursday, October 12th. BidaskClub downgraded Snap from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Raymond James Financial reaffirmed an “underperform” rating on shares of Snap in a research report on Friday, January 12th. Finally, Wedbush reaffirmed a “hold” rating and set a $12.00 price target on shares of Snap in a research report on Friday, November 3rd. Fourteen research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have assigned a buy rating to the stock. Snap has a consensus rating of “Hold” and a consensus price target of $18.25.

Shares of Snap (NYSE:SNAP) traded down $0.45 on Friday, hitting $18.94. The company had a trading volume of 18,208,651 shares, compared to its average volume of 29,276,484. The stock has a market capitalization of $23,350.00 and a P/E ratio of -5.72. Snap has a one year low of $11.28 and a one year high of $29.44.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.17. The business had revenue of $207.90 million during the quarter, compared to analysts’ expectations of $236.71 million. Snap had a negative return on equity of 97.08% and a negative net margin of 417.61%. The business’s revenue was up 62.2% on a year-over-year basis.

In other news, CFO Andrew Vollero sold 22,881 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $13.52, for a total value of $309,351.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mitchell Lasky sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $13.98, for a total value of $349,500.00. The disclosure for this sale can be found here. Insiders sold 1,885,626 shares of company stock valued at $25,814,031 over the last ninety days.

Several institutional investors have recently bought and sold shares of SNAP. Bank of New York Mellon Corp raised its stake in Snap by 57.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,643 shares of the company’s stock valued at $651,000 after buying an additional 13,336 shares during the last quarter. Prudential Financial Inc. boosted its position in Snap by 41.2% during the second quarter. Prudential Financial Inc. now owns 16,800 shares of the company’s stock worth $299,000 after acquiring an additional 4,900 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Snap during the second quarter worth about $278,000. UBS Asset Management Americas Inc. acquired a new position in Snap during the second quarter worth about $196,000. Finally, Northern Trust Corp boosted its position in Snap by 1,633.4% during the second quarter. Northern Trust Corp now owns 240,695 shares of the company’s stock worth $4,277,000 after acquiring an additional 226,809 shares during the last quarter. 18.97% of the stock is owned by hedge funds and other institutional investors.

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About Snap

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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