Snap Inc (NYSE: SNAP) – Analyst View Is Different Today

In today’s recent session, 4.53 million shares of the Snap Inc (NYSE:SNAP) have been traded, and its beta is 1.13. Most recently the company’s share price was $11.28, and it changed around -$0.2 or -1.70% from the last close, which brings the market valuation of the company to $18.63B. SNAP at last check was trading at a discount to its 52-week high of $17.90, offering almost -58.69% off that amount. The share price’s 52-week low was $7.86, which indicates that the recent value has risen by an impressive 30.32% since then. We note from Snap Inc’s average daily trading volume that its 10-day average is 22.29 million shares, with the 3-month average coming to 31.06 million.

Snap Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.77. If we narrow it down even further, the data shows that 4 out of 41 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 28 recommended SNAP as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Snap Inc is expected to report earnings per share of -$0.05 for the current quarter.

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Snap Inc (NYSE:SNAP) trade information

Instantly SNAP has been showing red trend so far today with a performance of -1.70% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -33.34% year-to-date, but still down -1.01% over the last five days. On the other hand, Snap Inc (NYSE:SNAP) is 2.40% up in the 30-day period. We can see from the shorts that 56.52 million shares have been sold at a short interest cover period of 1.99 day(s).

The consensus price target as assigned by Wall Street analysts is $30.95, which translates to bulls needing to increase their stock price by 63.55% from its current value. Analyst projections state that SNAP is forecast to be at a low of $7 and a high of $100.

Snap Inc (SNAP) estimates and forecasts

Snap Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 31.83 percent over the past six months and at a 77.78% annual growth rate that is well above the industry average of 19.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -600.00% in revenue this quarter, and will report an increase of 100.00% in the next quarter. The year-over-year growth rate is expected to be 13.80%, up from the previous year.

Consensus estimates provided by 33 financial analysts predict the company will bring in an average of $1.12 billion in revenue for the current quarter. 33 analysts expect Snap Inc to make $1.22 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.01 billion and $1.05 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 11.00%. Forecasts for the next quarter put sales growth at 15.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.22%.

SNAP Dividends

Snap Inc’s next quarterly earnings report is expected to be released around April 25 and April 29.

Snap Inc (NYSE:SNAP)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 25.02% of Snap Inc shares, and 56.82% of them are in the hands of institutional investors. The stock currently has a share float of 75.77%. Snap Inc stock is held by 787 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2023, it held 14.82% of the shares, which is about 206.91 million shares worth $2.33 billion.

Vanguard Group Inc, with 6.83% or 95.32 million shares worth $1.08 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 77.79 million shares worth $877.85 million, making up 5.57% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 32.82 million shares worth around $370.37 million, which represents about 2.35% of the total shares outstanding.