Snap Inc (SNAP) Expected to Post Quarterly Sales of $375.24 Million

Equities research analysts predict that Snap Inc (NYSE:SNAP) will post sales of $375.24 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Snap’s earnings. The lowest sales estimate is $363.66 million and the highest is $392.10 million. Snap posted sales of $285.69 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.3%. The firm is expected to report its next quarterly earnings report on Tuesday, February 5th.

On average, analysts expect that Snap will report full year sales of $1.17 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.18 billion. For the next year, analysts forecast that the business will report sales of $1.57 billion, with estimates ranging from $1.46 billion to $1.79 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Snap.

Snap (NYSE:SNAP) last released its earnings results on Thursday, October 25th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The business had revenue of $297.70 million for the quarter, compared to analyst estimates of $283.54 million. Snap had a negative net margin of 131.39% and a negative return on equity of 49.42%.

Several equities analysts recently issued reports on SNAP shares. Goldman Sachs Group dropped their target price on shares of Snap from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Pivotal Research upgraded shares of Snap from a “hold” rating to a “buy” rating and dropped their price objective for the company from $9.00 to $8.00 in a report on Friday, October 12th. Wedbush set a $12.00 price objective on shares of Snap and gave the company a “buy” rating in a report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Snap from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, SunTrust Banks reiterated a “hold” rating and set a $13.00 price objective on shares of Snap in a report on Monday, August 6th. Nine research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $12.40.

In other news, VP Jerry James Hunter sold 97,656 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $12.23, for a total transaction of $1,194,332.88. Following the completion of the sale, the vice president now directly owns 1,864,934 shares of the company’s stock, valued at $22,808,142.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Imran Khan sold 200,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $6.93, for a total transaction of $1,386,000.00. Following the sale, the insider now directly owns 7,791,577 shares of the company’s stock, valued at $53,995,628.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,137,229 shares of company stock valued at $32,848,241.

Large investors have recently bought and sold shares of the company. Aviance Capital Partners LLC bought a new stake in Snap in the 3rd quarter worth about $110,000. Steward Partners Investment Advisory LLC grew its position in Snap by 188.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 10,041 shares of the company’s stock worth $131,000 after purchasing an additional 6,556 shares in the last quarter. North Star Investment Management Corp. grew its position in Snap by 283.0% in the 2nd quarter. North Star Investment Management Corp. now owns 10,150 shares of the company’s stock worth $133,000 after purchasing an additional 7,500 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in Snap in the 2nd quarter worth about $138,000. Finally, Sunbelt Securities Inc. bought a new stake in Snap in the 2nd quarter worth about $138,000. 22.81% of the stock is owned by institutional investors.

SNAP stock opened at $6.79 on Friday. The firm has a market capitalization of $9.15 billion, a P/E ratio of -3.26 and a beta of -0.49. Snap has a 12-month low of $5.77 and a 12-month high of $21.22.

Snap Company Profile

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 to 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 to surface the most interesting stories 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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