Snap (NYSE:SNAP) Stock Rating Upgraded by B. Riley

Snap (NYSE:SNAP) was upgraded by analysts at B. Riley to a “hold” rating in a report issued on Thursday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Argus upgraded shares of Snap to a “hold” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday. Truist Financial reduced their price target on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Susquehanna dropped their price objective on shares of Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their target price on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $13.76.

Snap Trading Down 0.1 %

NYSE SNAP opened at $10.06 on Thursday. The firm’s fifty day moving average is $10.58 and its two-hundred day moving average is $12.81. Snap has a one year low of $8.28 and a one year high of $17.90. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The firm has a market cap of $16.69 billion, a PE ratio of -12.42 and a beta of 1.00.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Analysts expect that Snap will post -0.48 earnings per share for the current year.

Insider Transactions at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.56, for a total value 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 SEC, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,511,540 shares of company stock worth $13,569,906. 22.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in Snap during the 2nd quarter worth $33,000. Blue Trust Inc. grew its position in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC bought a new position in Snap in the 2nd quarter valued at about $40,000. J.Safra Asset Management Corp increased its stake in Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after buying an additional 2,330 shares during the period. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in shares of Snap during the 1st quarter worth about $100,000. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.