Snap (SNAP) to Release Earnings on Thursday

Snap (NYSE:SNAP) is set to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Snap to post earnings of ($0.05) per share for the quarter. Snap has set its Q1 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Snap (NYSE:SNAP) last posted 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 during the quarter, compared to analysts’ expectations 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 Trading Down 0.2 %

SNAP opened at $11.14 on Tuesday. Snap has a 1-year low of $7.86 and a 1-year high of $17.90. The firm has a 50-day moving average price of $11.21 and a two-hundred day moving average price of $12.78. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $18.38 billion, a PE ratio of -13.42 and a beta of 1.13.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 of the company’s stock, valued at $39,409,682.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 470,482 shares of company stock valued at $5,284,091.

Analyst Upgrades and Downgrades

SNAP has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Wells Fargo & Company lowered their price target on shares of Snap from $22.00 to $16.00 and set an “overweight” rating for the company 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 stock a “neutral” rating in a research report on Wednesday, January 17th. UBS Group lowered their price target on shares of Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Finally, BMO Capital Markets decreased their price objective on shares of Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.86.

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.