In the latest trading session, 9.72 million Snap Inc (NYSE:SNAP) shares changed hands as the company’s beta touched 0.99. With the company’s most recent per share price at $12.23 changing hands around $0.89 or 7.89% at last look, the market valuation stands at $20.52B. SNAP’s current price is a discount, trading about -43.09% off its 52-week high of $17.50. The share price had its 52-week low at $8.29, which suggests the last value was 32.22% up since then. When we look at Snap Inc’s average trading volume, we note the 10-day average is 27.82 million shares, with the 3-month average coming to 30.05 million.
Analysts gave the Snap Inc (SNAP) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.71. If we narrow down to specifics, the data shows that 0 out of 28 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 13 recommended SNAP as a Hold, 15 felt it is a Buy and 0 rated the stock as Underweight. Snap Inc’s EPS for the current quarter is expected to be 0.14.
Snap Inc (NYSE:SNAP) trade information
Instantly SNAP is in green as seen in intraday trades today. With action -2.51%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 13.60%, with the 5-day performance at -2.51% in the red. However, in the 30-day time frame, Snap Inc (NYSE:SNAP) is 7.51% up. Looking at the short shares, we see there were 87.3 million shares sold at short interest cover period of 3.07 days.
The consensus price target for the stock as assigned by Wall Street analysts is 13.25, meaning bulls need an upside of 7.7% from its recent market value. According to analyst projections, SNAP’s forecast low is 9 with 16 as the target high. To hit the forecast high, the stock’s price needs a -30.83% plunge from its current level, while the stock would need to tank 26.41% 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 -24.19% over the past 6 months, a 177.78% in annual growth rate that is considerably higher than the industry average of 25.50%. Year-over-year growth is forecast to reach 16.21% up from the last financial year.
Consensus estimates given by 33 financial analysts project the company’s revenue in the current quarter to hit an average of 1.55B. 27 analysts are of the opinion that Snap Inc’s revenue for the current quarter will be 1.34B. The company’s revenue for the corresponding quarters a year ago was 1.36B and 1.19B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 13.83%. The estimates for the next quarter sales put growth at 11.77%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.22%. The 2025 estimates are for Snap Inc earnings to increase by 43.51%, but the outlook for the next 5-year period is at 27.40% per year.
SNAP Dividends
Snap Inc is expected to release its next quarterly earnings report in February.
Snap Inc (NYSE:SNAP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 23.92% of Snap Inc shares while 60.87% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.00%. There are 60.87% institutions holding the Snap Inc stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 12.551% of the shares, roughly 206.76 million SNAP shares worth $3.43 billion.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 6.0007% or 98.86 million shares worth $1.64 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Nov 30, 2024 were Fidelity Blue Chip Growth Fund and Growth Fund of America Inc. With 84.72 shares estimated at $1.03 billion under it, the former controlled 5.95% of total outstanding shares. On the other hand, Growth Fund of America Inc held about 2.73% of the shares, roughly 38.9 shares worth around $474.9 million.
