Snap Inc. (NYSE:SNAP) Expected to Announce Earnings of -$0.29 Per Share

Equities analysts expect that Snap Inc. (NYSE:SNAP) will announce earnings per share (EPS) of ($0.29) for the current quarter, Zacks reports. Eight analysts have issued estimates for Snap’s earnings, with the lowest EPS estimate coming in at ($0.39) and the highest estimate coming in at ($0.10). The business is expected to issue its next earnings report after the market closes on Thursday, August 10th.

Zacks’ EPS averages are an average based on a survey of analysts that cover Snap.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million during the quarter, compared to analyst estimates of $158.32 million. The company’s quarterly revenue was up 285.6% on a year-over-year basis.

Several equities research analysts have recently commented on the company. Vetr lowered Snap from a “buy” rating to a “hold” rating and set a $13.95 price target on the stock. in a research note on Monday. Summit Redstone reissued a “sell” rating and set a $10.00 price target (down previously from $17.00) on shares of Snap in a research note on Thursday, July 27th. Cleveland Research lowered Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 25th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Snap in a research note on Saturday, July 22nd. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $30.00 target price on shares of Snap in a research note on Monday, July 17th. Nine equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $21.03.

Snap (SNAP) opened at 13.67 on Tuesday. Snap has a 52-week low of $13.10 and a 52-week high of $29.44. The stock’s market cap is $16.11 billion. The stock has a 50 day moving average price of $16.27 and a 200 day moving average price of $19.65.

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A number of hedge funds have recently made changes to their positions in SNAP. NN Investment Partners Holdings N.V. increased its stake in shares of Snap by 6.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock valued at $754,000 after buying an additional 2,530 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Snap by 59.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,152 shares of the company’s stock valued at $198,000 after buying an additional 4,140 shares in the last quarter. US Bancorp DE bought a new stake in shares of Snap during the first quarter valued at about $101,000. WFG Advisors LP bought a new stake in shares of Snap during the first quarter valued at about $109,000. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of Snap during the second quarter valued at about $137,000. Hedge funds and other institutional investors own 29.61% of the company’s stock.

Snap Company Profile

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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