In today’s recent session, 3.36 million shares of the Snap Inc (NYSE:SNAP) have been traded, and its beta is 0.98. Most recently the company’s share price was $10.45, and it changed around -$0.1 or -0.95% from the last close, which brings the market valuation of the company to $17.53B. SNAP at last check was trading at a discount to its 52-week high of $17.90, offering almost -71.29% off that amount. The share price’s 52-week low was $8.29, which indicates that the recent value has risen by an impressive 20.67% since then. We note from Snap Inc’s average daily trading volume that its 10-day average is 30.76 million shares, with the 3-month average coming to 27.04 million.
Snap Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.71. If we narrow it down even further, the data shows that 9 out of 49 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 29 recommended SNAP as a Hold, whereas 6 deemed it a Buy, and 1 rated it as Underweight. Snap Inc is expected to report earnings per share of 0.14 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 -0.95% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 11.39 on recent trading dayincreased the stock’s daily price by 8.25%. The company’s shares are currently down -38.28% year-to-date, but still down -7.19% over the last five days. On the other hand, Snap Inc (NYSE:SNAP) is 1.16% up in the 30-day period. We can see from the shorts that 80.0 million shares have been sold at a short interest cover period of 2.93 day(s).
The consensus price target as assigned by Wall Street analysts is $14.5, which translates to bulls needing to increase their stock price by 27.93% from its current value. Analyst projections state that SNAP is forecast to be at a low of $9 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 fallen -33.14 percent over the past six months and at a 166.67% annual growth rate that is well above the industry average of 25.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 76.16% in revenue this quarter, and will report an increase of 51.57% in the next quarter. The year-over-year growth rate is expected to be 16.65%, up from the previous year.
Consensus estimates provided by 33 financial analysts predict the company will bring in an average of 1.56B in revenue for the current quarter. 24 analysts expect Snap Inc to make 1.34B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.36B and 1.19B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.52%. Forecasts for the next quarter put sales growth at 12.38%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.22%. Snap Inc earnings are expected to increase by 43.26% in 2024, but the outlook is positive 27.40% per year for the next five years.
SNAP Dividends
Snap Inc’s next quarterly earnings report is expected to be released on 2025-Feb-04.
Snap Inc (NYSE:SNAP)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 23.92% of Snap Inc shares, and 60.92% of them are in the hands of institutional investors. The stock currently has a share float of 80.07%. Snap Inc stock is held by 778.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 12.551% of the shares, which is about 206.76 million shares worth $3.43 billion.
VANGUARD GROUP INC, with 6.0007% or 98.86 million shares worth $1.64 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Fidelity Blue Chip Growth Fund and Growth Fund of America Inc were the top two Mutual Funds as of Sep 30, 2024. The former held 84.72 shares worth $885.72 million, making up 5.95% of all outstanding shares. On the other hand, Growth Fund of America Inc held roughly 38.9 shares worth around $406.7 million, which represents about 2.73% of the total shares outstanding.
