What is B. Riley's Estimate for Snap FY2024 Earnings?

Snap Inc. (NYSE:SNAP - Free Report) - Equities research analysts at B. Riley upped their FY2024 earnings estimates for shares of Snap in a note issued to investors on Wednesday, October 30th. B. Riley analyst N. Khan now expects that the company will earn ($0.36) per share for the year, up from their previous forecast of ($0.42). B. Riley currently has a "Neutral" rating and a $12.00 target price on the stock. The consensus estimate for Snap's current full-year earnings is ($0.47) per share. B. Riley also issued estimates for Snap's Q4 2024 earnings at ($0.01) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at $0.06 EPS, FY2025 earnings at ($0.20) EPS, FY2026 earnings at $0.03 EPS and FY2027 earnings at $0.25 EPS.

Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) EPS.

A number of other equities analysts also recently weighed in on SNAP. JPMorgan Chase & Co. cut their price target on shares of Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus dropped their target price on shares of Snap from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Monday, October 14th. Evercore ISI increased their target price on shares of Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, JMP Securities reduced their price objective on Snap from $17.00 to $16.00 and set a "market outperform" rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $14.25.

Snap Stock Performance

Snap stock traded down $0.41 during mid-day trading on Monday, reaching $12.12. 22,827,506 shares of the company's stock were exchanged, compared to its average volume of 27,682,445. The firm has a market capitalization of $20.11 billion, a PE ratio of -20.90 and a beta of 0.99. The company has a quick ratio of 3.98, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The business's fifty day simple moving average is $10.18 and its 200 day simple moving average is $12.73. Snap has a one year low of $8.29 and a one year high of $17.90.

Insider Transactions at Snap

In other Snap news, SVP Eric Young sold 114,097 shares of Snap stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares of the company's stock, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Eric Young sold 114,097 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the sale, the senior vice president now directly owns 3,041,723 shares in the company, valued at $27,710,096.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,515,051 shares of company stock worth $25,982,678. 22.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Snap

Institutional investors have recently modified their holdings of the company. GraniteShares Advisors LLC raised its holdings in shares of Snap by 2.5% during the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company's stock valued at $634,000 after acquiring an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its holdings in Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company's stock worth $411,000 after purchasing an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company's stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. DMC Group LLC increased its position in shares of Snap by 10.5% during the second quarter. DMC Group LLC now owns 15,583 shares of the company's stock valued at $259,000 after buying an additional 1,477 shares during the period. Finally, Blue Trust Inc. raised its stake in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after buying an additional 1,682 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.