Cantor Fitzgerald Reiterates Neutral Rating for Snap (NYSE:SNAP)

Snap (NYSE:SNAP)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $8.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 20.16% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Tuesday, August 6th. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. One 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.76.

Snap Stock Performance

NYSE SNAP traded down $0.03 during trading on Monday, hitting $10.02. 4,365,004 shares of the company’s stock traded hands, compared to its average volume of 27,405,445. 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 stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of -12.37 and a beta of 1.00. Snap has a 12-month low of $8.28 and a 12-month high of $17.90. The business has a 50 day moving average of $10.58 and a 200-day moving average of $12.83.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. As a group, equities research analysts anticipate that Snap will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 114,097 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the sale, the senior vice president now directly owns 3,041,723 shares in the company, valued at $27,710,096.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at $27,710,096.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap 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 approximately $508,832,634.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,511,540 shares of company stock worth $13,569,906. 22.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap

A number of institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Snap by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after acquiring an additional 891 shares during the period. GraniteShares Advisors LLC raised its holdings in Snap by 2.5% in the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after purchasing an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. lifted its position in Snap by 2.7% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after buying an additional 956 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after buying an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Snap by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock worth $333,000 after buying an additional 1,232 shares during the period. 47.52% of the stock is owned by institutional investors.

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.