Snap Inc. (NYSE:SNAP) Given Consensus Rating of “Hold” by Analysts

Shares of Snap Inc. (NYSE:SNAP) have earned an average rating of “Hold” from the thirty-two analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $13.77.

A number of research analysts have issued reports on SNAP shares. Truist Financial lowered their price objective on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $8.00 price target on shares of Snap in a research note on Monday, October 7th. Susquehanna decreased their price target on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.81, for a total transaction of $194,580.00. Following the sale, the general counsel now directly owns 489,058 shares in the company, valued at $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, General Counsel Michael J. O’sullivan sold 59,053 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $548,602.37. Following the sale, the general counsel now directly owns 1,258,278 shares in the company, valued at approximately $11,689,402.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now owns 489,058 shares in the company, valued at approximately $5,286,716.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,510,352 shares of company stock worth $13,446,353. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently modified their holdings of SNAP. V Square Quantitative Management LLC bought a new position in Snap in the third quarter worth approximately $29,000. Avaii Wealth Management LLC grew its stake in Snap by 271.9% in the third quarter. Avaii Wealth Management LLC now owns 43,037 shares of the company’s stock worth $461,000 after purchasing an additional 31,465 shares in the last quarter. nVerses Capital LLC grew its stake in Snap by 277.2% in the third quarter. nVerses Capital LLC now owns 81,100 shares of the company’s stock worth $868,000 after purchasing an additional 59,600 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Snap by 17.0% in the third quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company’s stock worth $3,506,000 after purchasing an additional 47,717 shares in the last quarter. Finally, Paladin Wealth LLC bought a new position in Snap in the third quarter worth approximately $30,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Trading Down 2.8 %

NYSE SNAP opened at $10.46 on Friday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap has a twelve month low of $8.29 and a twelve month high of $17.90. The firm has a market capitalization of $17.17 billion, a PE ratio of -12.91 and a beta of 1.01. The stock’s 50 day moving average is $9.80 and its 200 day moving average is $12.71.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share 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 company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Research analysts forecast that Snap will post -0.47 earnings per share for the current fiscal year.

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.