by SignalFactory · October 21, 2021 | 11:11:51 UTC
Snap’s stock (NYSE: SNAP) is scheduled to report its fiscal Q3 2021 results on Thursday, October 21. The expectation Snap to beat the consensus estimates for revenues, while its earnings will likely be in line with the consensus. The company has beaten consensus estimates for revenue and earnings for each of the last four quarters. In the past year, the company has increased engagement as daily average users continue to increase every quarter. In Q2 2021, the company launched 177 million new international Discover Channels, including 36 in the UK and 24 in India, one of which is a partnership with Sony Pictures Network to launch five shows. For Q2 2021, Spotlight, the company’s newest platform surfacing the most entertaining Snaps from the community, saw daily active users grow by 49%, average daily content submissions tripled, and daily time spent per user in the U.S. grow by over 60% compared to the previous quarter.
1) Revenues expected to be marginally ahead of the consensus estimates: Snap’s revenues for full-year 2020 were $2.5 billion – up 46% y-o-y, mainly due to growth in North America Advertising revenues as the digital form of advertising continues to garner higher demand. Trefis estimates Snap’s fiscal Q3 2021 revenues to be around $1.14 billion, just above the $1.1 billion consensus estimate.
2) EPS is likely to be in line with the consensus estimates: Snap Q3 2021 earnings per share are expected to be $0.08 per Trefis analysis, in line with the consensus estimate of $0.08. The company’s net loss decreased from $325.9 million to $151.6 million in the first quarter of 2021 as they continue to work on improvement in their operating margin. There is expected that the net income margin to improve in FY2021 compared to the previous year.
3) Stock price estimate 8% more than current market price: Snap’s valuation, using an RPS estimate of around $3.57 and a P/S multiple of 22.8x in fiscal 2022. This translates into a price of $81, which is 8% above the current market price of around $75.
Snap Long (Buy) Enter At: 76.68 T.P_1: 83.90 T.P_2: 88.98 T.P_3: 94.50 T.P_4: 100.00 S.L: 70.22
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