Snap (NYSE:SNAP) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Snap (NYSE:SNAP) released its quarterly earnings data on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13), Zacks reports. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%.

Snap Trading Up 3.9 %

Shares of NYSE SNAP traded up $0.44 during trading hours on Tuesday, hitting $11.61. The company’s stock had a trading volume of 47,708,364 shares, compared to its average volume of 30,379,463. Snap has a 12 month low of $8.29 and a 12 month high of $17.50. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of -20.01 and a beta of 0.99. 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 business has a 50-day simple moving average of $11.52 and a 200-day simple moving average of $10.91.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SNAP shares. Bank of America increased their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Friday, October 25th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. B. Riley increased their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.99.

Insider Activity at Snap

In other Snap news, CFO Derek Andersen sold 17,789 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total value of $213,468.00. Following the completion of the transaction, the chief financial officer now owns 2,176,017 shares in the company, valued at approximately $26,112,204. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the sale, the general counsel now owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 445,184 shares of company stock worth $4,968,189 over the last quarter.

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.