Analysts Offer Predictions for Snap Inc’s Q2 2018 Earnings (SNAP)
Snap Inc (NYSE:SNAP) – Equities researchers at SunTrust Banks issued their Q2 2018 EPS estimates for Snap in a research note issued to investors on Wednesday. SunTrust Banks analyst Y. Squali expects that the company will earn ($0.32) per share for the quarter. SunTrust Banks has a “Hold” rating and a $10.00 price objective on the stock. SunTrust Banks also issued estimates for Snap’s Q4 2018 earnings at ($0.21) EPS, FY2018 earnings at ($1.16) EPS, FY2019 earnings at ($1.01) EPS, FY2020 earnings at ($0.69) EPS, FY2021 earnings at ($0.20) EPS and FY2022 earnings at $0.29 EPS.
A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Snap from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Pivotal Research reiterated a “sell” rating and issued a $10.00 price objective on shares of Snap in a report on Wednesday, January 10th. Credit Suisse Group cut their price objective on shares of Snap from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Citigroup increased their price objective on shares of Snap to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. They noted that the move was a valuation call. Finally, UBS Group downgraded shares of Snap to a “neutral” rating in a report on Wednesday, February 7th. Fourteen research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $18.25.
Large investors have recently bought and sold shares of the stock. Profund Advisors LLC boosted its position in Snap by 9.7% in the 4th quarter. Profund Advisors LLC now owns 154,817 shares of the company’s stock valued at $2,262,000 after buying an additional 13,673 shares during the period. MYDA Advisors LLC purchased a new position in Snap in the 4th quarter valued at approximately $2,542,000. MML Investors Services LLC purchased a new position in Snap in the 4th quarter valued at approximately $546,000. Amundi Pioneer Asset Management Inc. purchased a new position in Snap in the 4th quarter valued at approximately $3,258,000. Finally, Coatue Management LLC boosted its position in Snap by 16.1% in the 4th quarter. Coatue Management LLC now owns 27,390,619 shares of the company’s stock valued at $400,176,000 after buying an additional 3,791,168 shares during the period. 18.98% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Steven Michael Horowitz sold 286,332 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $12.54, for a total transaction of $3,590,603.28. Following the completion of the transaction, the vice president now owns 2,532,598 shares of the company’s stock, valued at approximately $31,758,778.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan Spiegel sold 739,663 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $13.63, for a total transaction of $10,081,606.69. Following the transaction, the chief executive officer now directly owns 85,744,509 shares of the company’s stock, valued at approximately $1,168,697,657.67. The disclosure for this sale can be found here. Insiders have sold a total of 2,055,407 shares of company stock valued at $30,396,178 in the last ninety days.
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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