B. Riley Has Positive Outlook for Snap FY2029 Earnings

Snap Inc. (NYSE:SNAP) – Stock analysts at B. Riley boosted their FY2029 EPS estimates for shares of Snap in a note issued to investors on Tuesday, February 4th. B. Riley analyst N. Khan now expects that the company will earn $0.63 per share for the year, up from their prior forecast of $0.62. B. Riley currently has a “Neutral” rating and a $12.00 target price on the stock. The consensus estimate for Snap’s current full-year earnings is ($0.39) per share.

SNAP has been the subject of a number of other research reports. Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Loop Capital boosted their target price on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday. Susquehanna lifted their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays reaffirmed an “overweight” rating on shares of Snap in a report on Wednesday. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.87.

Snap Stock Performance

Shares of SNAP opened at $10.91 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a 50-day moving average of $11.49 and a 200-day moving average of $10.89. The company has a market cap of $18.29 billion, a PE ratio of -18.80 and a beta of 0.99. Snap has a one year low of $8.29 and a one year high of $17.33.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 12,315 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the sale, the general counsel now directly owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. The trade was a 1.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 11,154 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the transaction, the chief accounting officer now owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 445,184 shares of company stock valued at $4,968,189 in the last quarter. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several institutional investors have recently modified their holdings of SNAP. The Manufacturers Life Insurance Company increased its position in Snap by 16.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,276 shares of the company’s stock valued at $1,084,000 after purchasing an additional 9,185 shares during the period. Cetera Investment Advisers boosted its stake in shares of Snap by 23.7% in the 2nd quarter. Cetera Investment Advisers now owns 104,470 shares of the company’s stock valued at $1,735,000 after purchasing an additional 20,038 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Snap during the second quarter worth $994,000. Handelsbanken Fonder AB raised its stake in Snap by 6.7% during the third quarter. Handelsbanken Fonder AB now owns 187,407 shares of the company’s stock worth $2,005,000 after buying an additional 11,830 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in Snap in the third quarter valued at $832,000. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.