Snap Inc. (NYSE:SNAP) Posts Earnings Results, Misses Expectations By $0.07 EPS

Snap Inc. (NYSE:SNAP) announced its quarterly earnings results on Thursday. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.07, Morningstar.com reports. The firm had revenue of $181.70 million during the quarter, compared to analysts’ expectations of $186.49 million. The company’s revenue for the quarter was up 153.1% compared to the same quarter last year.

Shares of Snap (NYSE:SNAP) traded down 14.09% during midday trading on Friday, reaching $11.83. The company’s stock had a trading volume of 83,853,248 shares. The company’s 50-day moving average price is $15.10 and its 200 day moving average price is $19.13. Snap has a 12-month low of $11.77 and a 12-month high of $29.44. The company’s market capitalization is $13.95 billion. Snap also saw some unusual options trading on Thursday. Stock traders bought 65,962 put options on the company. This represents an increase of approximately 173% compared to the typical volume of 24,199 put options.

A number of analysts have recently commented on SNAP shares. Drexel Hamilton reissued a “buy” rating and set a $30.00 price target on shares of Snap in a research note on Thursday, May 11th. Vetr lowered Snap from a “buy” rating to a “hold” rating and set a $13.95 price target on the stock. in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $23.00 price target (down from $27.00) on shares of Snap in a research note on Friday. J P Morgan Chase & Co reissued a “neutral” rating and set a $18.00 price target (down from $20.00) on shares of Snap in a research note on Monday, June 5th. Finally, Stifel Nicolaus lowered Snap from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Friday, July 14th. Nine investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have assigned a buy rating to the stock. Snap has an average rating of “Hold” and an average target price of $19.42.

WARNING: “Snap Inc. (NYSE:SNAP) Posts Earnings Results, Misses Expectations By $0.07 EPS” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another site, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/08/12/snap-inc-nysesnap-posts-earnings-results-misses-expectations-by-0-07-eps.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in Snap during the first quarter worth $252,388,000. US Bancorp DE bought a new position in Snap during the first quarter worth $101,000. Global X Management Co. LLC bought a new position in Snap during the first quarter worth $3,650,000. KPCB DGF Associates LLC bought a new position in Snap during the first quarter worth $40,911,000. Finally, Oppenheimer & Co. Inc. bought a new position in Snap during the first quarter worth $369,000. Institutional investors own 30.16% of the company’s stock.

About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

Receive News & Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply