B. Riley Has Bullish Outlook for Snap FY2029 Earnings

Snap Inc. (NYSE:SNAP) – Research analysts at B. Riley raised their FY2029 earnings per share estimates for Snap in a report released on Tuesday, February 4th. B. Riley analyst N. Khan now anticipates that the company will post earnings of $0.63 per share for the year, up from their prior forecast of $0.62. B. Riley has a “Neutral” rating and a $12.00 price objective on the stock. The consensus estimate for Snap’s current full-year earnings is ($0.39) per share.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group upped their price target on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler restated a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. Citigroup boosted their price target on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday. Susquehanna raised their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.87.

Snap Stock Performance

Shares of SNAP stock opened at $10.68 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market cap of $17.90 billion, a P/E ratio of -18.40 and a beta of 0.99. The firm’s 50 day moving average price is $11.51 and its 200-day moving average price is $10.89. Snap has a one year low of $8.29 and a one year high of $17.33.

Insider Buying and Selling at Snap

In other Snap news, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This represents a 3.86 % 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, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $32,169.28. Following the completion of the transaction, the chief accounting officer now owns 430,252 shares in the company, valued at $4,922,082.88. This trade represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 445,184 shares of company stock worth $4,968,189.

Institutional Investors Weigh In On Snap

Hedge funds have recently modified their holdings of the stock. Checchi Capital Advisers LLC lifted its position in Snap by 3.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after purchasing an additional 901 shares during the period. HCR Wealth Advisors boosted its stake in shares of Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after buying an additional 934 shares in the last quarter. Empowered Funds LLC grew its holdings in Snap by 3.1% during the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after acquiring an additional 1,055 shares during the period. Metis Global Partners LLC lifted its holdings in Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after acquiring an additional 1,255 shares during the period. Finally, Gradient Investments LLC boosted its position in shares of Snap by 0.9% during the 4th quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock worth $1,531,000 after purchasing an additional 1,310 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.