B. Riley Estimates Snap’s FY2029 Earnings (NYSE:SNAP)

Snap Inc. (NYSE:SNAP) – Investment analysts at B. Riley lifted their FY2029 EPS estimates for Snap in a research note issued on Tuesday, February 4th. B. Riley analyst N. Khan now expects that the company will post earnings of $0.63 per share for the year, up from their previous forecast of $0.62. B. Riley currently has a “Neutral” rating and a $12.00 target price on the stock. The consensus estimate for Snap’s current full-year earnings is ($0.39) per share.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus decreased their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. JMP Securities reissued a “market outperform” rating and set a $16.00 price target on shares of Snap in a research note on Monday, January 27th. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Citigroup boosted their target price on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of Snap in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $36.87.

Snap Price Performance

Shares of NYSE:SNAP opened at $10.68 on Friday. The firm’s 50 day moving average price is $11.51 and its 200-day moving average price is $10.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $17.90 billion, a PE ratio of -18.40 and a beta of 0.99. Snap has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%.

Insider Activity

In related news, SVP Eric Young sold 112,020 shares of Snap stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the transaction, the senior vice president now directly owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 11,154 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now owns 465,064 shares in the company, valued at approximately $4,906,425.20. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,184 shares of company stock valued at $4,968,189.

Hedge Funds Weigh In On Snap

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after purchasing an additional 575,324 shares in the last quarter. TB Alternative Assets Ltd. raised its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock valued at $71,095,000 after purchasing an additional 389,812 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Snap by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock worth $34,950,000 after purchasing an additional 15,294 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.