In the latest trading session, 4,872,902 Snap Inc. (NYSE:SNAP) shares changed hands as the company’s beta touched 1.27. With the company’s most recent per share price at $63.13 changing hands around -$0.47 or -0.01% at last look, the market valuation stands at $98.73 Billion. SNAP’s current price is a discount, trading about -16.57% off its 52-week high of $73.59. The share price had its 52-week low at $20.61, which suggests the last value was 67.35% up since then. When we look at Snap Inc.’s average trading volume, we note the 10-day average is 16.45 Million shares, with the 3-month average coming to 21.55 Million.
Analysts gave the Snap Inc. (SNAP) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.1. If we narrow down to specifics, the data shows that 1 out of 38 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 9 recommended SNAP as a Hold, 26 felt it is a Buy and none rated the stock as Underweight. Snap Inc.’s EPS for the current quarter is expected to be -$0.01.
Snap Inc. (NYSE:SNAP) trade information
Although SNAP has turned red as seen in intraday trades today. With action -0.74%, the performance over the past five days has been green. The jump to weekly highs of $64.63 on Friday, Jun 18 added 2.48% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.26%, with the 5-day performance at 0.01% in the green. However, in the 30-day time frame, Snap Inc. (NYSE:SNAP) is 0.11% up. Looking at the short shares, we see there were 56.3 Million shares sold at short interest cover period of 2.61 days.
The consensus price target for the stock as assigned by Wall Street analysts is $78.17, meaning bulls need an upside of 23.82% from its recent market value. According to analyst projections, SNAP’s forecast low is $42 with $100 as the target high. To hit the forecast high, the stock’s price needs a +58.4% upsurge from its latest level, while the stock would need to tank -33.47% for it to hit the projected low.
Snap Inc. (SNAP) estimates and forecasts
Data shows that the Snap Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +19.44% over the past 6 months, a 483.33% in annual growth rate that is considerably higher than the industry average of 2.8%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Snap Inc. will rise +88.9%, while the growth in revenue is estimated to hit 500% for the next quarter. Year-over-year growth is forecast to reach 55.8% up from the last financial year.
Consensus estimates given by 31 financial analysts project the company’s revenue in the current quarter to hit an average of $844.98 Million. 31 analysts are of the opinion that Snap Inc.’s revenue for the quarter ending September 01, 2021 will be $1.01 Billion. The company’s revenue for the corresponding quarters a year ago was $439.06 Million and $549.99 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 92.5%. The estimates for the next quarter sales put growth at 83.9%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -15%. The 2021 estimates are for Snap Inc. earnings to increase by 13.6%, but the outlook for the next 5-year period is at 0% per year.
Snap Inc. (NYSE:SNAP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.46% of Snap Inc. shares while 64.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 72.89%. There are 941 institutions holding the Snap Inc. stock share, with Price (T.Rowe) Associates Inc the top institutional holder. As of Mar 30, 2021, the company held 10.19% of the shares, roughly 129.24 Million SNAP shares worth $6.76 Billion.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 4.73% or 59.94 Million shares worth $3.13 Billion as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Advisors Inner Circle Fund-Edgewood Growth Fd. With 31779451 shares estimated at $1.66 Billion under it, the former controlled 2.51% of total outstanding shares. On the other hand, Advisors Inner Circle Fund-Edgewood Growth Fd held about 2.12% of the shares, roughly 26.93 Million shares worth around $1.41 Billion.