The trading price of Snap Inc (NYSE:SNAP) closed higher on Firday, October 25, and closing at $10.45, 1.75% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $10.29 and $10.539. In examining the 52-week price action we see that the stock hit a 52-week high of $17.90 and a 52-week low of $8.29. Over the past month, the stock has lost -1.04% in value.
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Snap Inc, whose market valuation is $17.34 billion at the time of this writing, is expected to release its quarterly earnings report in November. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.05 per share this quarter, however they have predicted annual earnings per share of 0.21 for current year and 0.37 for next year.
Analysts have forecast the company to bring in revenue of 1.36B for the current quarter, with the likely lows of 1.34B and highs of 1.37B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 5.34B.
On the technical side, indicators suggest SNAP has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned SNAP a recommendation rating is 28. Out of them, 13 rate it a Hold, while 15 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Snap Inc (SNAP) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that SNAP’s price is currently -1.48% off the SMA20 and 5.14% off the SMA50. The RSI metric on the 14-day chart is currently showing 50.78, and weekly volatility stands at 2.90%. When measured over the past 30 days, the indicator reaches 3.48%. Snap Inc (NYSE:SNAP)’s beta value is currently sitting at 1.02, while the Average True Range indicator is currently displaying 0.38. With analysts defining $8-$100 as the low and high price targets, we arrive at a consensus price target of $15.5 for the trailing 12-month period. The current price is about 23.44% off the estimated low and -856.94% off the forecast high, based on this estimate. Investors will be thrilled if SNAP’s share price rises to $15.5, which is the median consensus price. At that level, SNAP’s share price would be -48.33% below current price.
To see how Snap Inc stock has been performing in comparison to its peers in the industry, here are the numbers: SNAP stock’s performance was 1.75% in the latest trading, and 13.71% in the past year.
An evaluation of the daily trading volume of Snap Inc (NYSE:SNAP) indicates that the 3-month average is 25.98 million. However, this figure has increased over the past 10 days to an average of 22.09.
Currently, records show that 1.39 billion of the company’s shares remain outstanding. The insiders hold 36.47% of outstanding shares, whereas institutions hold 52.22%. The stats also highlight that short interest as of 2024-10-15, stood at 72.07 million shares, resulting in a short ratio of 2.99 at that time. From this, we can conclude that short interest is 791.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 54.16 million. However, since the stock’s price has seen -38.28% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
