Snap (SNAP) Scheduled to Post Quarterly Earnings on Thursday

Snap (NYSE:SNAP - Get Free Report) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter. Snap has set its Q1 2024 guidance at EPS.Parties interested in participating in the company's conference call can do so using this link.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. On average, analysts expect Snap to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Snap Stock Up 6.7 %

SNAP traded up $0.73 during midday trading on Thursday, hitting $11.63. 54,300,431 shares of the company's stock traded hands, compared to its average volume of 29,724,879. The company has a market cap of $19.20 billion, a PE ratio of -14.01 and a beta of 1.13. The stock's fifty day simple moving average is $11.21 and its 200-day simple moving average is $12.71. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. Snap has a one year low of $7.86 and a one year high of $17.90.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several recent research reports. Stifel Nicolaus cut their price objective on shares of Snap from $14.00 to $12.00 and set a "hold" rating on the stock in a research report on Tuesday. Rosenblatt Securities lifted their price target on shares of Snap from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, February 7th. Piper Sandler lifted their price target on shares of Snap from $12.00 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, January 17th. Wells Fargo & Company dropped their price target on shares of Snap from $22.00 to $16.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 7th. Finally, UBS Group dropped their price target on shares of Snap from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.86.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the sale, the chief accounting officer now owns 495,526 shares in the company, valued at $5,520,159.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Eric Young sold 120,472 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the sale, the senior vice president now owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 9,386 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the sale, the chief accounting officer now owns 495,526 shares in the company, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Insiders have sold 470,054 shares of company stock worth $5,279,729 over the last 90 days. Corporate insiders own 22.68% of the company's stock.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. ICA Group Wealth Management LLC bought a new position in shares of Snap in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Snap by 365.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company's stock valued at $47,000 after buying an additional 3,094 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of Snap in the first quarter valued at about $49,000. Advisors Asset Management Inc. raised its holdings in shares of Snap by 80.4% in the first quarter. Advisors Asset Management Inc. now owns 5,979 shares of the company's stock valued at $215,000 after buying an additional 2,665 shares during the last quarter. Finally, O Dell Group LLC bought a new position in shares of Snap in the fourth quarter valued at about $104,000. 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.