Snap Inc (NYSE:SNAP) – Wedbush reduced their Q1 2018 earnings per share (EPS) estimates for shares of Snap in a note issued to investors on Wednesday. Wedbush analyst M. Pachter now anticipates that the company will post earnings of ($0.31) per share for the quarter, down from their previous forecast of ($0.30). Wedbush currently has a “Hold” rating and a $12.50 target price on the stock. Wedbush also issued estimates for Snap’s Q3 2018 earnings at ($0.30) EPS, Q4 2018 earnings at ($0.29) EPS, FY2018 earnings at ($1.22) EPS, Q1 2019 earnings at ($0.32) EPS, Q2 2019 earnings at ($0.31) EPS, Q3 2019 earnings at ($0.29) EPS, Q4 2019 earnings at ($0.28) EPS and FY2019 earnings at ($1.20) EPS.
A number of other analysts have also issued reports on the stock. Vetr raised shares of Snap from a “hold” rating to a “strong-buy” rating and set a $18.29 target price for the company in a research note on Thursday, October 19th. Morgan Stanley lowered shares of Snap from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of Snap from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. BidaskClub lowered shares of Snap from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group reissued a “buy” rating and set a $18.00 target price on shares of Snap in a research note on Tuesday, January 9th. Fourteen research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the company. Snap has a consensus rating of “Hold” and an average target price of $18.25.
In other Snap news, Director Mitchell Lasky sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $12.38, for a total value of $309,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Imran Khan sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $20.04, for a total transaction of $5,010,000.00. Following the completion of the transaction, the insider now owns 9,755,173 shares of the company’s stock, valued at $195,493,666.92. The disclosure for this sale can be found here. Insiders sold 2,230,407 shares of company stock valued at $32,578,428 over the last quarter.
Institutional investors and hedge funds have recently bought and sold shares of the company. WFG Advisors LP increased its holdings in shares of Snap by 52.4% during the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after acquiring an additional 2,537 shares in the last quarter. First Manhattan Co. increased its holdings in shares of Snap by 384.5% during the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after acquiring an additional 6,056 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Snap by 967.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock valued at $116,000 after acquiring an additional 7,255 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Snap during the second quarter valued at about $148,000. Finally, Nelson Roberts Investment Advisors LLC increased its holdings in shares of Snap by 10,033.0% during the third quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock valued at $147,000 after acquiring an additional 10,033 shares in the last quarter. Hedge funds and other institutional investors own 18.97% of the company’s stock.
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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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