What is Zacks Research’s Estimate for Snap FY2024 Earnings?

Snap Inc. (NYSE:SNAP) – Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Snap in a report issued on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the company will post earnings per share of ($0.46) for the year, up from their previous forecast of ($0.47). The consensus estimate for Snap’s current full-year earnings is ($0.41) per share. Zacks Research also issued estimates for Snap’s Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.37) EPS, Q1 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.23) EPS.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business earned ($0.21) earnings per share. Snap’s revenue was up 15.4% on a year-over-year basis.

A number of other brokerages have also recently commented on SNAP. Hsbc Global Res cut Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their target price on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Citigroup decreased their target price on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $14.00 target price on shares of Snap in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Snap has an average rating of “Hold” and a consensus target price of $14.31.

Snap Stock Up 7.4 %

Shares of NYSE SNAP opened at $11.42 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. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The stock has a market capitalization of $19.15 billion, a P/E ratio of -19.66 and a beta of 0.99. The stock’s fifty day moving average is $10.82 and its 200 day moving average is $12.54.

Institutional Investors Weigh In On Snap

Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in Snap in the third quarter worth $29,000. Paladin Wealth LLC bought a new position in Snap in the 3rd quarter valued at $30,000. Advisors Asset Management Inc. grew its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the period. Hollencrest Capital Management bought a new position in shares of Snap during the 2nd quarter worth $33,000. Finally, Blue Trust Inc. grew its stake in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the period. Institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Eric Young sold 112,020 shares of the business’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 owns 2,791,048 shares in the company, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.30, for a total value of $167,400.00. Following the sale, the general counsel now owns 456,662 shares of the company’s stock, valued at $4,246,956.60. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,406,709 shares of company stock worth $16,615,487. 22.68% of the stock is owned by corporate insiders.

Snap Company Profile

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.