Equities Analysts Offer Predictions for Snap FY2029 Earnings

Snap Inc. (NYSE:SNAP) – Equities research analysts at B. Riley lifted their FY2029 earnings per share estimates for shares of Snap in a research report issued on Tuesday, February 4th. B. Riley analyst N. Khan now anticipates that the company will post earnings per share of $0.63 for the year, up from their prior forecast of $0.62. B. Riley has a “Neutral” rating and a $12.00 price objective on the stock. The consensus estimate for Snap’s current full-year earnings is ($0.39) per share.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%.

SNAP has been the topic of a number of other reports. Evercore ISI lifted their target price on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald lifted their price objective on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Susquehanna upped their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Friday, October 25th. Finally, Barclays restated an “overweight” rating on shares of Snap in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.87.

Snap Stock Performance

NYSE SNAP opened at $10.91 on Friday. The company’s fifty day moving average is $11.49 and its two-hundred day moving average is $10.89. Snap has a 52-week low of $8.29 and a 52-week high of $17.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of -18.80 and a beta of 0.99.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. raised its position in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Snap in the 3rd quarter valued at $1,345,000. Invenomic Capital Management LP bought a new position in shares of Snap in the 3rd quarter worth $2,349,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Snap during the third quarter worth $832,000. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 112,020 shares of Snap stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 11,154 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the transaction, the chief accounting officer now directly owns 465,064 shares in the company, valued at $4,906,425.20. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 445,184 shares of company stock worth $4,968,189. 22.68% of the stock is currently owned by corporate insiders.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.