Snap Inc Forecasted to Post Q1 2018 Earnings of ($0.33) Per Share (SNAP)
Snap Inc (NYSE:SNAP) – Stock analysts at Jefferies Group issued their Q1 2018 earnings estimates for shares of Snap in a research report issued to clients and investors on Wednesday. Jefferies Group analyst B. Thill forecasts that the company will post earnings of ($0.33) per share for the quarter. Jefferies Group has a “Hold” rating and a $30.00 price objective on the stock. Jefferies Group also issued estimates for Snap’s Q3 2018 earnings at ($0.30) EPS and FY2018 earnings at ($1.27) EPS.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Snap from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Vetr raised Snap from a “hold” rating to a “strong-buy” rating and set a $18.29 price target on the stock in a research note on Thursday, October 19th. BidaskClub lowered Snap from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Wedbush reaffirmed a “hold” rating and set a $12.00 price target on shares of Snap in a research note on Friday, November 3rd. Finally, Royal Bank of Canada lowered Snap from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $20.00 to $15.00 in a research note on Wednesday, November 8th. Fourteen equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have issued a buy rating to the stock. Snap has a consensus rating of “Hold” and an average price target of $18.25.
Several institutional investors have recently made changes to their positions in the business. Coatue Management LLC increased its holdings in shares of Snap by 16.1% in the fourth quarter. Coatue Management LLC now owns 27,390,619 shares of the company’s stock worth $400,176,000 after acquiring an additional 3,791,168 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Snap by 17.8% in the fourth quarter. BlackRock Inc. now owns 11,648,770 shares of the company’s stock worth $170,188,000 after acquiring an additional 1,762,106 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Snap by 23.7% in the second quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock worth $148,446,000 after acquiring an additional 1,601,170 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Snap by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 7,650,826 shares of the company’s stock worth $110,556,000 after acquiring an additional 797,290 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Snap by 11.3% in the fourth quarter. First Trust Advisors LP now owns 6,546,551 shares of the company’s stock worth $95,645,000 after acquiring an additional 662,450 shares in the last quarter. Institutional investors own 18.98% of the company’s stock.
In other Snap news, CEO Evan Spiegel sold 739,663 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $13.63, for a total value of $10,081,606.69. Following the completion of the sale, the chief executive officer now directly owns 85,744,509 shares in the company, valued at $1,168,697,657.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Imran Khan sold 250,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $20.04, for a total value of $5,010,000.00. Following the completion of the sale, the insider now owns 9,755,173 shares of the company’s stock, valued at $195,493,666.92. The disclosure for this sale can be found here. Insiders sold 2,055,407 shares of company stock worth $30,396,178 in the last three months.
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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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