$436.33 Million in Sales Expected for Snap Inc (NYSE:SNAP) This Quarter

Equities analysts expect Snap Inc (NYSE:SNAP) to announce $436.33 million in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Snap’s earnings, with the highest sales estimate coming in at $443.70 million and the lowest estimate coming in at $430.20 million. Snap reported sales of $297.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 46.6%. The firm is expected to issue its next quarterly earnings report on Thursday, October 24th.

On average, 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 expect that the firm will report sales of $2.30 billion, with estimates ranging from $2.17 billion to $2.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Snap.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.02. The firm had revenue of $388.02 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share.

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of Snap from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $8.00 to $16.00 in a research note on Wednesday, July 24th. SunTrust Banks increased their price objective on shares of Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Jefferies Financial Group increased their price objective on shares of Snap from $13.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Citigroup increased their price objective on shares of Snap from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Finally, China Renaissance Securities assumed coverage on shares of Snap in a research note on Wednesday, May 29th. They issued a “hold” rating and a $12.00 price objective on the stock. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company’s stock. Snap presently has a consensus rating of “Hold” and a consensus target price of $14.88.

Shares of NYSE:SNAP traded down $0.01 during midday trading on Monday, reaching $15.98. The company’s stock had a trading volume of 25,770,500 shares, compared to its average volume of 40,606,328. The firm has a market capitalization of $22.56 billion, a PE ratio of -16.47 and a beta of 1.10. Snap has a twelve month low of $4.82 and a twelve month high of $18.36. The stock has a fifty day moving average of $15.83 and a 200 day moving average of $12.33. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15.

In other Snap news, Director Michael Lynton sold 130,949 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $18.00, for a total transaction of $2,357,082.00. Following the transaction, the director now directly owns 77,086 shares of the company’s stock, valued at $1,387,548. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 9,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $12.00, for a total transaction of $108,000.00. Following the transaction, the chief financial officer now directly owns 1,551,175 shares in the company, valued at $18,614,100. The disclosure for this sale can be found here. Insiders have sold 5,491,508 shares of company stock worth $85,282,074 over the last three months.

A number of institutional investors and hedge funds have recently bought and sold shares of SNAP. Vanguard Group Inc. lifted its holdings in Snap by 12.0% during the second quarter. Vanguard Group Inc. now owns 59,173,892 shares of the company’s stock valued at $846,186,000 after purchasing an additional 6,320,561 shares in the last quarter. BlackRock Inc. lifted its holdings in Snap by 34.1% during the second quarter. BlackRock Inc. now owns 21,849,669 shares of the company’s stock valued at $312,449,000 after purchasing an additional 5,561,652 shares in the last quarter. Hillhouse Capital Advisors LTD. purchased a new position in Snap during the second quarter valued at $63,862,000. Price T Rowe Associates Inc. MD lifted its holdings in Snap by 837.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,384,158 shares of the company’s stock valued at $48,393,000 after purchasing an additional 3,023,183 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Snap during the second quarter valued at $36,518,000. 25.74% of the stock is currently owned by institutional investors and hedge funds.

Snap Company Profile

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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Earnings History and Estimates for Snap (NYSE:SNAP)

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