Snap Inc (SNAP) Expected to Post Q3 2018 Earnings of ($0.31) Per Share

Snap Inc (NYSE:SNAP) – Investment analysts at Oppenheimer issued their Q3 2018 earnings estimates for shares of Snap in a research report issued to clients and investors on Wednesday. Oppenheimer analyst J. Helfstein expects that the company will post earnings of ($0.31) per share for the quarter. Oppenheimer currently has a “Outperform” rating and a $19.00 target price on the stock. Oppenheimer also issued estimates for Snap’s Q4 2018 earnings at ($0.30) EPS.

A number of other research analysts have also recently weighed in on the stock. Vetr raised shares of Snap from a “hold” rating to a “strong-buy” rating and set a $18.29 price target on the stock in a research report on Thursday, October 19th. Morgan Stanley cut shares of Snap from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 9th. Zacks Investment Research cut shares of Snap from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. BidaskClub cut shares of Snap from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $18.00 price target on shares of Snap in a research report on Tuesday, January 9th. Fourteen investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.25.

Shares of Snap (NYSE:SNAP) traded down $0.45 during mid-day trading on Friday, reaching $18.94. 18,208,651 shares of the company’s stock were exchanged, compared to its average volume of 29,276,484. The firm has a market capitalization of $23,350.00 and a PE ratio of -5.72. Snap has a 1 year low of $11.28 and a 1 year high of $29.44.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.17. The firm had revenue of $207.90 million for the quarter, compared to analysts’ expectations of $236.71 million. Snap had a negative net margin of 417.61% and a negative return on equity of 97.08%. The firm’s revenue for the quarter was up 62.2% on a year-over-year basis.

Several large investors have recently modified their holdings of SNAP. First Manhattan Co. increased its holdings in shares of Snap by 384.5% in the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after purchasing an additional 6,056 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Snap by 967.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock valued at $116,000 after purchasing an additional 7,255 shares in the last quarter. WFG Advisors LP raised its stake in shares of Snap by 52.4% in the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after purchasing an additional 2,537 shares in the last quarter. Nelson Roberts Investment Advisors LLC raised its stake in shares of Snap by 10,033.0% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock valued at $147,000 after purchasing an additional 10,033 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Snap in the second quarter valued at $148,000. Institutional investors and hedge funds own 18.97% of the company’s stock.

In related news, CFO Andrew Vollero sold 70,566 shares of Snap stock in a transaction on Monday, December 18th. The shares were sold at an average price of $16.09, for a total value of $1,135,406.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven Michael Horowitz sold 286,332 shares of Snap stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $12.54, for a total transaction of $3,590,603.28. Following the completion of the sale, the vice president now owns 2,532,598 shares of the company’s stock, valued at approximately $31,758,778.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,885,626 shares of company stock valued at $25,814,031.

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About Snap

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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