Snap (SNAP) Scheduled to Post Earnings on Tuesday

Snap (NYSE:SNAP) is scheduled to announce its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Snap has set its Q3 2024 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, analysts expect Snap to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Snap Stock Performance

NYSE:SNAP opened at $10.45 on Friday. The stock has a 50-day simple moving average of $9.94 and a two-hundred day simple moving average of $12.68. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The firm has a market capitalization of $17.15 billion, a PE ratio of -12.90 and a beta of 1.01.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the sale, the chief accounting officer now directly owns 472,405 shares in the company, valued at $4,298,885.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the sale, the chief accounting officer now directly owns 472,405 shares in the company, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now owns 489,058 shares in the company, valued at approximately $5,286,716.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,508,617 shares of company stock worth $13,422,930 over the last ninety days. Company insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SNAP shares. JMP Securities raised Snap from a “market perform” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Wednesday. Truist Financial cut their price target on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Barclays dropped their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus target price of $14.08.

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.