During the recent session, Snap Inc. (NYSE:SNAP)’s traded shares were 17,574,993, with the beta value of the company hitting 1.23. At the last check, the stock’s price was $62.22, reflecting an intraday gain of 3.3% or $1.99. The 52-week high for the SNAP share is $73.59, that puts it down -18.27% from that peak though still a striking +80.7% gain since the share price plummeted to a 52-week low of $12.01. The company’s market capitalization is $93.74 Billion, and the average intraday trading volume over the past 10 days was 19.52 Million shares, and the average trade volume was 22.67 Million shares over the past three months.
Snap Inc. (SNAP) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.1. SNAP has a Sell rating from 1 analyst(s) out of 39 analysts who have looked at this stock. 11 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 25 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.
Snap Inc. (NYSE:SNAP): Trading Information
Snap Inc. (SNAP) registered a 3.3% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.79% in intraday trading to $62.77 this Thursday, Apr 08, hitting a weekly high. The stock’s 5-day price performance is 19.09%, and it has moved by 17.74% in 30 days. Based on these gigs, the overall price performance for the year is 24.37%. The short interest in Snap Inc. (NYSE:SNAP) is 61.57 Million shares and it means that shorts have 2.72 day(s) to cover.
The consensus price target of analysts on Wall Street is $74.09, which implies an increase of 19.08% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $40 and $91 respectively. As a result, SNAP is trading at a discount of 46.26% off the target high and -35.71% off the low.
Snap Inc. (SNAP) projections and forecasts
Statistics show that Snap Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Snap Inc. (SNAP) shares have gone up +118.7% during the last six months, with a year-to-date growth rate less than the industry average at -300% against -1.2%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 37.5% this quarter and then jump 77.8% in the quarter after that. In the rating firms’ projections, revenue will increase 52.3% compared to the previous financial year.
Revenue for the current quarter is expected to be $742.04 Million as predicted by 31 analyst(s). Meanwhile, a consensus of 31 analyst(s) estimates revenue growth to $821.01 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $462.48 Million and $439.06 Million respectively. In this case, analysts expect current quarter sales to grow by 60.4% and then jump by 87% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -15%. While earnings are projected to return 13.6% in 2021, the next five years will return 0% per annum.
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Snap Inc. (NYSE:SNAP)’s Biggest Investors
Snap Inc. insiders own 11.81% of total outstanding shares while institutional holders control 64.07%, with the float percentage being 72.65%. Price (T.Rowe) Associates Inc is the largest shareholder of the company, while 866 institutions own stock in it. As of Dec 30, 2020, the company held over 126.21 Million shares (or 10.07% of all shares), a total value of $6.32 Billion in shares.
The next largest institutional holding, with 75.22 Million shares, is of Vanguard Group, Inc. (The)’s that is approximately 6% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $3.77 Billion.
Also, the Mutual Funds coming in first place with the largest holdings of Snap Inc. (SNAP) shares are Advisors Inner Circle Fund-Edgewood Growth Fd and Vanguard Total Stock Market Index Fund. Data provided on Jan 30, 2021 indicates that Advisors Inner Circle Fund-Edgewood Growth Fd owns about 32,638,881 shares. This amounts to just over 2.6 percent of the company’s overall shares, with a $1.73 Billion market value. The same data shows that the other fund manager holds slightly less at 31.31 Million, or about 2.5% of the stock, which is worth about $1.57 Billion.