Snap Inc. (NYSE:SNAP) Expected to Post Quarterly Sales of $1.16 Billion

Equities research analysts expect Snap Inc. (NYSE:SNAPGet Rating) to announce sales of $1.16 billion for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Snap’s earnings. The lowest sales estimate is $1.10 billion and the highest is $1.21 billion. Snap posted sales of $982.11 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.1%. The business is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Snap will report full year sales of $5.35 billion for the current financial year, with estimates ranging from $5.07 billion to $5.74 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.39 billion, with estimates ranging from $6.39 billion to $8.23 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Snap.

Snap (NYSE:SNAPGet Rating) last released its quarterly earnings data on Thursday, April 21st. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Snap had a negative net margin of 12.71% and a negative return on equity of 16.37%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The company’s revenue was up 38.1% on a year-over-year basis.

SNAP has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price objective on Snap from $35.00 to $17.00 in a report on Tuesday. Benchmark decreased their price target on Snap from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on Snap in a research note on Friday, March 11th. They set a “buy” rating and a $45.00 price target on the stock. Oppenheimer decreased their price target on Snap from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Canaccord Genuity Group decreased their price target on Snap from $46.00 to $40.00 in a research note on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $39.73.

In other Snap news, CAO Rebecca Morrow sold 8,405 shares of the firm’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $32.25, for a total transaction of $271,061.25. Following the transaction, the chief accounting officer now owns 229,383 shares of the company’s stock, valued at $7,397,601.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 15,773 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $28.92, for a total value of $456,155.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,555,687 shares of company stock worth $44,789,003.

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Lone Pine Capital LLC boosted its stake in shares of Snap by 47.9% during the fourth quarter. Lone Pine Capital LLC now owns 33,478,637 shares of the company’s stock worth $1,574,500,000 after buying an additional 10,839,980 shares during the period. Wellington Management Group LLP boosted its stake in shares of Snap by 95.8% during the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after buying an additional 8,712,380 shares during the period. Edgewood Management LLC boosted its stake in shares of Snap by 9.0% during the first quarter. Edgewood Management LLC now owns 79,851,942 shares of the company’s stock worth $2,873,871,000 after buying an additional 6,591,367 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Snap by 123.8% during the fourth quarter. Baillie Gifford & Co. now owns 11,709,169 shares of the company’s stock worth $550,682,000 after buying an additional 6,477,834 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in shares of Snap by 1,817.5% during the first quarter. 1832 Asset Management L.P. now owns 6,621,000 shares of the company’s stock worth $235,088,000 after buying an additional 6,275,700 shares during the period. Institutional investors and hedge funds own 53.88% of the company’s stock.

SNAP traded up $0.77 during trading hours on Friday, reaching $15.58. The company’s stock had a trading volume of 65,507,131 shares, compared to its average volume of 39,029,473. Snap has a fifty-two week low of $12.55 and a fifty-two week high of $83.34. The stock has a market cap of $25.49 billion, a PE ratio of -43.28 and a beta of 1.18. The business’s 50-day moving average is $29.43 and its 200-day moving average is $37.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 7.19 and a quick ratio of 7.19.

About Snap (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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