Snap (NYSE:SNAP) issued its quarterly earnings results on Tuesday. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02), Morningstar.com reports. Snap had a negative net margin of 92.94% and a negative return on equity of 46.43%. The firm had revenue of $320.43 million for the quarter, compared to analysts’ expectations of $306.28 million. During the same period in the prior year, the company earned ($0.17) EPS. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. Snap updated its Q2 2019 guidance to EPS.

NYSE:SNAP opened at $11.26 on Thursday. Snap has a twelve month low of $4.82 and a twelve month high of $15.67. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of -11.61 and a beta of 1.18.

In other news, VP Jerry James Hunter sold 8,770 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $11.72, for a total transaction of $102,784.40. Following the transaction, the vice president now directly owns 1,677,417 shares in the company, valued at approximately $19,659,327.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Lynton sold 58,668 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $11.00, for a total value of $645,348.00. Following the transaction, the director now owns 126,817 shares in the company, valued at $1,394,987. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,643,476 shares of company stock worth $66,573,374.

Institutional investors have recently made changes to their positions in the company. Valmark Advisers Inc. increased its position in shares of Snap by 64.7% during the 4th quarter. Valmark Advisers Inc. now owns 18,543 shares of the company’s stock valued at $102,000 after purchasing an additional 7,285 shares during the last quarter. Wedbush Securities Inc. bought a new position in Snap during the 4th quarter worth approximately $55,000. Geode Capital Management LLC grew its position in Snap by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after acquiring an additional 208,932 shares during the last quarter. Ffcm LLC bought a new position in Snap during the 4th quarter worth approximately $92,000. Finally, Edge Wealth Management LLC grew its position in Snap by 1,173.7% during the 4th quarter. Edge Wealth Management LLC now owns 5,426 shares of the company’s stock worth $30,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 23.32% of the company’s stock.

A number of research analysts have recently commented on SNAP shares. Royal Bank of Canada raised Snap from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $10.00 to $17.00 in a research report on Friday, April 5th. Zacks Investment Research raised Snap from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, February 18th. Citigroup raised Snap from a “sell” rating to a “neutral” rating and set a $7.00 price objective on the stock in a report on Monday, January 14th. Goldman Sachs Group cut Snap from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $6.00 in a report on Friday, January 4th. Finally, Cowen raised Snap from an “underperform” rating to a “market perform” rating and set a $6.00 price objective on the stock in a report on Thursday, January 10th. Four investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $10.36.

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About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Earnings History for Snap (NYSE:SNAP)

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