Research Analysts Set Expectations for Snap FY2024 Earnings

Snap Inc. (NYSE:SNAP) – Analysts at Zacks Research increased their FY2024 earnings per share estimates for Snap in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the company will post earnings per share of ($0.46) for the year, up from their previous 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.

A number of other brokerages have also recently commented on SNAP. HSBC cut shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group increased their price objective on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial upped their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Argus upgraded shares of Snap to a “hold” rating in a research report on Thursday, August 8th. 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. According to MarketBeat.com, Snap presently has an average rating of “Hold” and an average price target of $14.31.

Snap Stock Up 0.2 %

SNAP stock opened at $10.62 on Friday. The company has a market cap of $17.81 billion, a price-to-earnings ratio of -18.30 and a beta of 0.99. The company has a fifty day moving average price of $10.79 and a 200 day moving average price of $12.55. 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 has a 12 month low of $8.29 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last released its quarterly 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 company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.30, for a total transaction of $167,400.00. Following the sale, the general counsel now owns 456,662 shares of the company’s stock, valued at $4,246,956.60. This trade represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value 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. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,356,709 shares of company stock worth $16,088,487 over the last ninety days. 22.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Snap in the third quarter valued at $29,000. Paladin Wealth LLC purchased a new stake in Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. increased its stake in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Snap during the 2nd quarter worth about $33,000. Finally, Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 1,682 shares during 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.