Snap Inc (NYSE:SNAP) shares, rose in value, with the stock price down by -0.18% to the previous day’s close as strong demand from buyers drove the stock to $11.00.
Actively observing the price movement in the last trading, the stock closed the session at $11.02. The value of beta (5-year monthly) was 1.13. Referring to stock’s 52-week performance, its high was $17.90, and the low was $7.86. On the whole, SNAP has fluctuated by -1.43% over the past month.
With the market capitalization of Snap Inc currently standing at about $18.16 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.05, which is expected to increase to $0.09 for fiscal year $0.17 and then to about $0.37 by fiscal year 2025. Data indicates that the EPS growth is expected to be 88.90% in 2025, while the next year’s EPS growth is forecast to be 117.60%.
Analysts have estimated the company’s revenue for the quarter at $1.12 billion, with a low estimate of $1.1 billion and a high estimate of $1.14 billion. According to the average forecast, sales growth in current quarter could jump up 11.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $5.24 billion, representing an increase of 13.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SNAP’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SNAP currently trading nearly -3.61% and -10.68% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.30, while the 7-day volatility ratio is showing 3.26% which for the 30-day chart, stands at 3.72%. Furthermore, Snap Inc (SNAP)’s beta value is 1.14, and its average true range (ATR) is 0.45.
Data on historical trading for Snap Inc (NYSE:SNAP) indicates that the trading volumes over the past 10 days have averaged 17.07 million and over the past 3 months, they’ve averaged 30.46 million. According to company’s latest data on outstanding shares, there are 1.39 billion shares outstanding.
Nearly 36.88% of Snap Inc’s shares belong to company insiders and institutional investors own 47.94% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 56.52 million shares as on Mar 15, 2024, resulting in a short ratio of 1.99. According to the data, the short interest in Snap Inc (SNAP) stood at 3.42% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 60.92 million. The stock has fallen by -35.03% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SNAP stock heading into the next quarter.
