What is Zacks Research’s Estimate for Snap FY2024 Earnings?

Snap Inc. (NYSE:SNAP) – Zacks Research boosted their FY2024 EPS estimates for shares of Snap in a report issued on Tuesday, November 19th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of ($0.46) for the year, up from their previous forecast of ($0.47). The consensus estimate for Snap’s current full-year earnings is ($0.40) 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) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.21) earnings per share.

Several other equities analysts also recently weighed in on the company. Cantor Fitzgerald increased their target price on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI increased their price objective on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Stifel Nicolaus decreased their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. Finally, Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. One investment 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 stock. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $14.31.

Snap Price Performance

SNAP stock opened at $11.42 on Friday. The stock has a market capitalization of $19.15 billion, a price-to-earnings ratio of -19.68 and a beta of 0.99. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. The stock’s fifty day simple moving average is $10.85 and its 200-day simple moving average is $12.50.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated 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 sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 11,154 shares of the business’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 transaction, the chief accounting officer now directly owns 465,064 shares of the company’s stock, valued at $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,406,709 shares of company stock worth $16,615,487 over the last quarter. 22.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap

Several institutional investors have recently bought and sold shares of SNAP. GraniteShares Advisors LLC increased its stake in Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after buying an additional 941 shares during the period. Concurrent Investment Advisors LLC raised its holdings 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 purchasing an additional 1,048 shares in the last quarter. Metis Global Partners LLC lifted its position in Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after purchasing an additional 1,255 shares during the period. Intech Investment Management LLC grew its holdings in Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after acquiring an additional 1,433 shares during the period. Finally, DMC Group LLC raised its position in Snap by 10.5% in the second quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after acquiring an additional 1,477 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.