Analysts Expect Snap One Holdings Corp. (NASDAQ:SNPO) Will Post Quarterly Sales of $293.28 Million

Wall Street analysts predict that Snap One Holdings Corp. (NASDAQ:SNPO – Get Rating) will announce $293.28 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Snap One’s earnings. The highest sales estimate is $296.70 million and the lowest is $286.82 million. Snap One reported sales of $253.31 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Snap One will report full-year sales of $1.15 billion for the current fiscal year, with estimates ranging from $1.13 billion to $1.16 billion. For the next year, analysts forecast that the business will post sales of $1.26 billion, with estimates ranging from $1.24 billion to $1.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Snap One.

Snap One (NASDAQ:SNPO – Get Rating) last issued its quarterly earnings data on Tuesday, March 22nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $273.49 million during the quarter, compared to the consensus estimate of $261.27 million.

A number of equities analysts recently issued reports on SNPO shares. JPMorgan Chase & Co. lowered their price target on Snap One from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, March 23rd. Truist Financial lowered their price target on Snap One from $25.00 to $21.00 in a report on Friday, March 25th. Zacks Investment Research raised Snap One from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Morgan Stanley lowered their price target on Snap One from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.38.

A number of institutional investors and hedge funds have recently made changes to their positions in SNPO. Geode Capital Management LLC acquired a new stake in shares of Snap One during the 3rd quarter valued at approximately $3,964,000. New York State Common Retirement Fund acquired a new stake in shares of Snap One during the 4th quarter valued at approximately $228,000. Russell Investments Group Ltd. acquired a new stake in shares of Snap One during the 4th quarter valued at approximately $668,000. Laurion Capital Management LP acquired a new stake in shares of Snap One during the 3rd quarter valued at approximately $757,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Snap One during the 3rd quarter valued at approximately $104,000. 93.11% of the stock is currently owned by institutional investors.

Shares of SNPO stock traded up $1.02 during mid-day trading on Monday, hitting $12.42. 101,429 shares of the stock were exchanged, compared to its average volume of 80,428. The stock’s fifty day simple moving average is $14.65 and its two-hundred day simple moving average is $17.96. The stock has a market capitalization of $942.43 million and a price-to-earnings ratio of -26.43. Snap One has a 12-month low of $9.95 and a 12-month high of $24.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 2.24.

Snap One Company Profile (Get Rating)

Snap One Holdings Corp. provides smart living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.

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