Snap Inc (NYSE:SNAP) – Equities researchers at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of Snap in a research note issued to investors on Wednesday. Jefferies Group analyst B. Thill anticipates that the company will earn ($0.33) per share for the quarter. Jefferies Group currently has a “Hold” rating and a $30.00 target price on the stock. Jefferies Group also issued estimates for Snap’s Q3 2018 earnings at ($0.30) EPS and FY2018 earnings at ($1.27) EPS.
Several other research firms have also recently weighed in on SNAP. BidaskClub cut Snap from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Vetr upgraded 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. SunTrust Banks upgraded Snap from a “sell” rating to a “hold” rating and set a $10.00 target price for the company in a research note on Wednesday, February 7th. Zacks Investment Research upgraded Snap from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, January 17th. Finally, Pivotal Research restated a “sell” rating and set a $10.00 target price on shares of Snap in a research note on Wednesday, January 10th. Fourteen analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.25.
A number of institutional investors have recently bought and sold shares of SNAP. State Treasurer State of Michigan purchased a new stake in shares of Snap in the third quarter valued at $15,714,000. Hodges Capital Management Inc. purchased a new stake in shares of Snap in the third quarter valued at $7,997,000. Lehman Financial Resources Inc. purchased a new stake in shares of Snap in the third quarter valued at $3,275,000. Vanguard Group Inc. lifted its position in shares of Snap by 23.7% in the second quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock valued at $148,446,000 after acquiring an additional 1,601,170 shares in the last quarter. Finally, TB Alternative Assets Ltd. lifted its position in shares of Snap by 117.1% in the fourth quarter. TB Alternative Assets Ltd. now owns 546,600 shares of the company’s stock valued at $7,986,000 after acquiring an additional 294,800 shares in the last quarter. 18.97% of the stock is currently owned by institutional investors.
In other Snap news, CFO Andrew Vollero sold 94,781 shares of the company’s stock in a transaction on Saturday, February 17th. The stock was sold at an average price of $18.51, for a total value of $1,754,396.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Evan Spiegel sold 739,663 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $13.63, for a total value of $10,081,606.69. Following the completion of the sale, the chief executive officer now directly owns 85,744,509 shares in the company, valued at approximately $1,168,697,657.67. The disclosure for this sale can be found here. Insiders sold 2,230,407 shares of company stock worth $32,578,428 in the last three months.
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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