Brokerages expect Snap Inc (NYSE:SNAP) to report sales of $436.33 million for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Snap’s earnings. The lowest sales estimate is $430.20 million and the highest is $443.70 million. Snap posted sales of $297.70 million during the same quarter last year, which would indicate a positive year over year growth rate of 46.6%. The business is scheduled to issue its next earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Snap will report full-year sales of $1.68 billion for the current financial year, with estimates ranging from $1.52 billion to $1.74 billion. For the next year, analysts anticipate that the firm will report sales of $2.30 billion, with estimates ranging from $2.17 billion to $2.44 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Snap.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. The firm had revenue of $388.02 million for the quarter, compared to analysts’ expectations of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share.
In other Snap news, VP Jerry James Hunter sold 107,370 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $11.32, for a total transaction of $1,215,428.40. Following the completion of the sale, the vice president now directly owns 1,918,693 shares in the company, valued at $21,719,604.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Lynton sold 25,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $13.21, for a total transaction of $330,250.00. Following the sale, the director now owns 126,817 shares of the company’s stock, valued at $1,675,252.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,491,508 shares of company stock valued at $85,282,074.
Several institutional investors have recently bought and sold shares of SNAP. KCL Capital L.P. raised its stake in Snap by 13.6% in the second quarter. KCL Capital L.P. now owns 1,250,000 shares of the company’s stock worth $17,875,000 after buying an additional 150,000 shares in the last quarter. Steadfast Capital Management LP bought a new position in Snap in the second quarter worth about $17,375,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Snap by 437.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 233,531 shares of the company’s stock worth $3,340,000 after buying an additional 190,098 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Snap by 107.8% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 326,831 shares of the company’s stock worth $4,674,000 after buying an additional 169,578 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Snap by 6.6% in the second quarter. California Public Employees Retirement System now owns 401,800 shares of the company’s stock worth $5,746,000 after buying an additional 24,900 shares in the last quarter. Institutional investors own 25.74% of the company’s stock.
NYSE:SNAP traded down $0.01 during midday trading on Monday, hitting $15.98. The company had a trading volume of 25,770,500 shares, compared to its average volume of 40,606,328. Snap has a 52-week low of $4.82 and a 52-week high of $18.36. The stock’s fifty day moving average price is $15.83 and its 200-day moving average price is $12.33. The company has a market capitalization of $22.56 billion, a PE ratio of -16.47 and a beta of 1.10. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15.
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 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 surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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