B. Riley Equities Analysts Boost Earnings Estimates for Snap

Snap Inc. (NYSE:SNAP) – B. Riley raised their FY2024 earnings per share estimates for Snap in a research note issued on Wednesday, October 30th. B. Riley analyst N. Khan now expects that the company will post earnings per share of ($0.36) for the year, up from their prior estimate of ($0.42). B. Riley has a “Neutral” rating and a $12.00 price target on the stock. The consensus estimate for Snap’s current full-year earnings is ($0.47) 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 has been the topic of several other reports. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Stifel Nicolaus lowered their target price on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Argus raised shares of Snap to a “hold” rating in a research note on Thursday, August 8th. Evercore ISI boosted their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Bank of America boosted their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.25.

Snap Stock Performance

Shares of NYSE SNAP opened at $12.12 on Monday. The stock has a market capitalization of $20.11 billion, a P/E ratio of -20.90 and a beta of 0.99. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. 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 firm’s 50-day moving average price is $10.23 and its two-hundred day moving average price is $12.73.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping 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 company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the company earned ($0.21) earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year.

Insider Buying and Selling

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction 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 completion of the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Derek Andersen sold 97,608 shares of Snap 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 completion of the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.50, for a total transaction 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,365,051 shares of company stock valued at $15,965,178. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

A number of institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new stake in shares of Snap during the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its holdings in Snap by 354.1% during the 2nd 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. Rothschild Investment LLC bought a new position in Snap in the 2nd quarter valued at $40,000. V Square Quantitative Management LLC acquired a new stake in shares of Snap in the 3rd quarter valued at $29,000. Finally, Paladin Wealth LLC bought a new stake in shares of Snap during the third quarter worth $30,000. 47.52% of the stock is owned by institutional investors.

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.