Snap Inc. (NYSE:SNAP) Given Average Recommendation of “Hold” by Brokerages

Shares of Snap Inc. (NYSE:SNAP) have been assigned an average rating of “Hold” from the thirty-two analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $37.10.

A number of analysts recently commented on SNAP shares. JMP Securities lowered their price objective on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price objective on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Loop Capital lifted their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, B. Riley lifted their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th.

Snap Stock Up 2.3 %

Shares of NYSE SNAP opened at $12.45 on Friday. The stock has a market cap of $20.87 billion, a PE ratio of -21.46 and a beta of 0.97. The business has a fifty day moving average of $11.23 and a two-hundred day moving average of $12.21. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities research analysts expect that Snap will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Snap

In related news, Director Joanna Coles sold 6,434 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. This represents a 10.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,406,709 shares of company stock worth $16,662,107 in the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. GraniteShares Advisors LLC grew its holdings in shares of Snap by 2.5% during the 2nd 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. Concurrent Investment Advisors LLC grew 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 worth $448,000 after purchasing an additional 1,048 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Snap by 6.9% during the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after purchasing an additional 1,255 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Snap by 1.9% during the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after purchasing an additional 1,433 shares in the last quarter. Finally, DMC Group LLC grew its holdings in shares of Snap by 10.5% during the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after purchasing an additional 1,477 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.