Snap Inc. (SNAP) Posts Earnings Results, Misses Estimates By $0.07 EPS
Snap Inc. (NYSE:SNAP) announced its quarterly earnings data on Thursday. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.07, Morningstar.com reports. The firm had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. Snap’s quarterly revenue was up 153.1% compared to the same quarter last year.
Snap (NYSE SNAP) opened at 13.77 on Friday. Snap has a 12-month low of $11.90 and a 12-month high of $29.44. The firm’s market cap is $16.23 billion. The stock has a 50 day moving average price of $15.27 and a 200-day moving average price of $19.19.
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SNAP has been the subject of several recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $30.00 target price on shares of Snap in a research note on Monday, April 17th. Barclays PLC restated a “sell” rating on shares of Snap in a research note on Friday, April 14th. Royal Bank Of Canada restated an “outperform” rating and set a $31.00 target price on shares of Snap in a research note on Monday, April 17th. Vetr cut Snap from a “buy” rating to a “hold” rating and set a $22.54 target price for the company. in a research note on Thursday, April 27th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $23.00 target price on shares of Snap in a research note on Tuesday, July 11th. Nine analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have given a buy rating to the company’s stock. Snap presently has a consensus rating of “Hold” and an average target price of $20.22.
Several hedge funds have recently made changes to their positions in SNAP. US Bancorp DE bought a new stake in shares of Snap during the first quarter valued at about $101,000. WFG Advisors LP bought a new stake in shares of Snap during the first quarter valued at about $109,000. Seven Bridges Advisors LLC bought a new stake in shares of Snap during the second quarter valued at about $101,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Snap during the first quarter valued at about $158,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Snap by 654.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock valued at $134,000 after buying an additional 6,540 shares during the period. 30.16% of the stock is currently owned by institutional investors and hedge funds.
Snap Company Profile
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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