B. Riley Analysts Increase Earnings Estimates for Snap

Snap Inc. (NYSE:SNAP) – Analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for Snap in a research note issued on Wednesday, October 30th. B. Riley analyst N. Khan now forecasts that the company will post earnings of ($0.36) per share for the year, up from their prior forecast of ($0.42). B. Riley currently has a “Neutral” rating and a $12.00 price target on the stock. The consensus estimate for Snap’s current full-year earnings is ($0.41) 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.

Several other research firms have also commented on SNAP. Argus upgraded shares of Snap to a “hold” rating in a research note on Thursday, August 8th. Piper Sandler restated a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Bank of America increased their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Finally, UBS Group increased their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.31.

Snap Trading Up 0.6 %

Shares of Snap stock opened at $12.19 on Monday. The stock has a market capitalization of $20.23 billion, a PE ratio of -21.02 and a beta of 0.99. Snap has a 1-year low of $8.29 and a 1-year high of $17.90. The company’s fifty day simple moving average is $10.28 and its 200-day simple moving average is $12.74. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year.

Institutional Investors Weigh In On Snap

Several institutional investors have recently bought and sold shares of the stock. GraniteShares Advisors LLC lifted its stake in 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 buying an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its stake in Snap by 2.7% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after acquiring an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after acquiring an additional 1,048 shares in the last quarter. DMC Group LLC increased its stake in shares of Snap by 10.5% in 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 in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,365,051 shares of company stock worth $15,965,178.

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.