Zacks: Brokerages Anticipate Snap Inc. (NYSE:SNAP) Will Announce Earnings of -$0.29 Per Share
Analysts predict that Snap Inc. (NYSE:SNAP) will post ($0.29) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Snap’s earnings. The lowest EPS estimate is ($0.39) and the highest is ($0.10). The business is expected to report its next quarterly earnings results after the market closes on Thursday, August 10th.
Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Snap.
Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. The company’s quarterly revenue was up 285.6% on a year-over-year basis.
A number of equities analysts recently commented on the stock. Canaccord Genuity assumed coverage on shares of Snap in a research report on Friday, April 28th. They set a “hold” rating and a $22.00 price target on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $26.00 price target on shares of Snap in a research report on Tuesday, May 9th. Credit Suisse Group reaffirmed an “outperform” rating and set a $25.00 price target (down from $30.00) on shares of Snap in a research report on Monday, July 10th. Raymond James Financial, Inc. assumed coverage on shares of Snap in a research report on Tuesday, April 25th. They set a “market perform” rating and a $23.48 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Snap in a research report on Monday, May 22nd. Nine analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.03.
Snap (NYSE:SNAP) traded up 4.72% on Tuesday, hitting $13.54. 44,263,277 shares of the stock traded hands. The firm’s 50 day moving average is $16.13 and its 200 day moving average is $19.59. Snap has a 52 week low of $12.83 and a 52 week high of $29.44. The stock’s market cap is $15.96 billion.
Hedge funds have recently bought and sold shares of the company. FMR LLC purchased a new stake in Snap during the first quarter valued at about $737,133,000. JPMorgan Chase & Co. purchased a new stake in Snap during the first quarter valued at about $252,388,000. BlackRock Inc. purchased a new stake in Snap during the first quarter valued at about $211,934,000. Vanguard Group Inc. purchased a new stake in Snap during the first quarter valued at about $152,135,000. Finally, Jennison Associates LLC purchased a new stake in Snap during the first quarter valued at about $119,178,000. Hedge funds and other institutional investors own 29.61% of the company’s stock.
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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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