What is B. Riley's Estimate for Snap FY2029 Earnings?

Snap Inc. (NYSE:SNAP - Free Report) - Stock analysts at B. Riley increased their FY2029 earnings estimates for Snap in a research note issued to investors on Tuesday, February 4th. B. Riley analyst N. Khan now anticipates that the company will post earnings of $0.63 per share for the year, up from their prior estimate of $0.62. B. Riley has a "Neutral" rating and a $12.00 price target on the stock. The consensus estimate for Snap's current full-year earnings is ($0.26) per share.

A number of other analysts also recently commented on SNAP. BMO Capital Markets reiterated an "outperform" rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a "buy" rating and set a $640.00 target price on shares of Snap in a research report on Thursday, December 5th. Citigroup boosted their target price on Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Susquehanna boosted their target price on Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Finally, Benchmark restated a "hold" rating on shares of Snap in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of "Hold" and an average target price of $36.87.

Snap Price Performance

SNAP traded up $0.03 during trading on Friday, reaching $10.74. 13,591,388 shares of the stock were exchanged, compared to its average volume of 33,262,238. The business's 50 day moving average price is $11.44 and its two-hundred day moving average price is $10.80. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 4.04. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of -25.56 and a beta of 0.99. Snap has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%.

Institutional Investors Weigh In On Snap

Several hedge funds have recently bought and sold shares of SNAP. Geode Capital Management LLC boosted its stake in shares of Snap by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company's stock valued at $124,742,000 after buying an additional 575,324 shares during the period. TB Alternative Assets Ltd. boosted its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock valued at $71,095,000 after purchasing an additional 389,812 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company's stock valued at $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Snap by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company's stock worth $34,950,000 after purchasing an additional 15,294 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 94,164 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares in the company, valued at $25,097,140.64. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eric Young sold 112,020 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction 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 $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 443,518 shares of company stock valued at $4,947,981. Insiders own 22.68% of the company's stock.

About Snap

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.