B. Riley Predicts Snap’s FY2028 Earnings (NYSE:SNAP)

Snap Inc. (NYSE:SNAP) – B. Riley issued their FY2028 earnings per share (EPS) estimates for Snap in a report released on Wednesday, October 30th. B. Riley analyst N. Khan anticipates that the company will earn $0.47 per share for the year. B. Riley currently has a “Neutral” rating and a $12.00 price objective on the stock. The consensus estimate for Snap’s current full-year earnings is ($0.47) per share.

Other research analysts also recently issued reports about the company. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Susquehanna decreased their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. UBS Group increased their price objective on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of Snap in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.25.

Snap Stock Up 3.0 %

Shares of Snap stock opened at $12.53 on Friday. Snap has a 1 year low of $8.29 and a 1 year high of $17.90. The business has a 50-day moving average of $10.18 and a two-hundred day moving average of $12.70. The company has a market capitalization of $20.79 billion, a P/E ratio of -21.60 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned ($0.21) earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year.

Insider Transactions at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap news, CEO Evan Spiegel sold 150,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the transaction, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,497,051 shares of company stock worth $13,261,098. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently modified their holdings of SNAP. Marshall Wace LLP increased its stake in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. increased its stake in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in shares of Snap in the 2nd quarter valued at $22,591,000. Assenagon Asset Management S.A. increased its stake in shares of Snap by 74.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after purchasing an additional 1,201,565 shares during the last quarter. Finally, Curated Wealth Partners LLC increased its stake in shares of Snap by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock valued at $8,912,000 after purchasing an additional 1,073,082 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

About Snap

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.