Zacks Research Has Strong Estimate for Snap FY2024 Earnings

Snap Inc. (NYSE:SNAP - Free Report) - Stock analysts at Zacks Research raised their FY2024 earnings estimates for Snap in a report released on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the company will earn ($0.46) per share for the year, up from their prior estimate of ($0.47). The consensus estimate for Snap's current full-year earnings is ($0.41) per share. Zacks Research also issued estimates for Snap's Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.37) EPS, Q1 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.23) EPS.

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

SNAP has been the subject of several other reports. Piper Sandler restated a "neutral" rating and set a $13.00 price objective (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. HSBC lowered shares of Snap from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. Wells Fargo & Company lowered their target price on shares of Snap from $15.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. Hsbc Global Res lowered shares of Snap from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 2nd. Finally, UBS Group increased their target price on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Snap has an average rating of "Hold" and an average price target of $14.31.

Snap Trading Up 6.8 %

Snap stock traded up $0.72 during midday trading on Friday, hitting $11.35. 25,336,068 shares of the stock were exchanged, compared to its average volume of 27,712,449. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The stock has a market capitalization of $19.04 billion, a price-to-earnings ratio of -19.66 and a beta of 0.99. The stock's 50-day simple moving average is $10.82 and its 200 day simple moving average is $12.54. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63.

Institutional Trading of Snap

A number of institutional investors have recently modified their holdings of SNAP. Hollencrest Capital Management purchased a new stake in shares of Snap during the second quarter valued at approximately $33,000. Blue Trust Inc. raised its stake in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Snap during the second quarter valued at approximately $40,000. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the third quarter worth approximately $29,000. Finally, Paladin Wealth LLC acquired a new stake in shares of Snap during the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insider Activity at Snap

In other news, CAO Rebecca Morrow sold 11,154 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 $117,674.70. Following the completion of the transaction, the chief accounting officer now owns 465,064 shares of the company's stock, valued at $4,906,425.20. This represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Derek Andersen sold 97,608 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the sale, the chief financial officer now owns 2,287,970 shares of the company's stock, valued at $21,255,241.30. The trade was a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,356,709 shares of company stock valued at $16,088,487. 22.68% of the stock is owned by 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.