Snap’s (SNAP) “Neutral” Rating Reaffirmed at Roth Mkm

Roth Mkm reiterated their neutral rating on shares of Snap (NYSE:SNAP) in a research report sent to investors on Wednesday morning, Benzinga reports. Roth Mkm currently has a $14.00 price objective on the stock.

A number of other brokerages have also weighed in on SNAP. Benchmark restated a hold rating on shares of Snap in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price objective on Snap from $13.00 to $11.00 and set an underweight rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald assumed coverage on Snap in a research note on Thursday, September 5th. They set a neutral rating and a $8.00 price objective for the company. Bank of America lowered their price objective on Snap from $16.00 to $13.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Finally, Hsbc Global Res lowered Snap from a strong-buy rating to a hold rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $13.87.

Snap Stock Performance

Shares of NYSE:SNAP opened at $9.67 on Wednesday. The company has a market cap of $15.87 billion, a P/E ratio of -11.94 and a beta of 1.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap has a one year low of $8.28 and a one year high of $17.90. The business’s 50-day simple moving average is $10.82 and its 200 day simple moving average is $12.83.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. On average, sell-side analysts forecast that Snap will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the sale, the chief accounting officer now directly owns 472,405 shares in the company, valued at approximately $4,298,885.50. The disclosure for this sale can be found here. Insiders have sold 1,511,540 shares of company stock valued at $13,569,906 in the last quarter. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of Snap by 12.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after buying an additional 4,307 shares in the last quarter. Carmignac Gestion bought a new stake in shares of Snap in the 4th quarter worth $110,103,000. TCW Group Inc. bought a new stake in shares of Snap in the 4th quarter worth $275,000. V Square Quantitative Management LLC raised its stake in shares of Snap by 72.7% in the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after buying an additional 4,679 shares in the last quarter. Finally, Alta Park Capital LP bought a new stake in shares of Snap in the 4th quarter worth $13,845,000. Institutional investors own 47.52% of the company’s stock.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.