Snap’s (SNAP) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Snap (NYSE:SNAP) in a research note released on Friday morning,Benzinga reports. JMP Securities currently has a $16.00 target price on the stock.

SNAP has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Guggenheim restated a “buy” rating and issued a $12.11 price target on shares of Snap in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price objective on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.10.

Snap Stock Performance

SNAP opened at $11.97 on Friday. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of -20.64 and a beta of 0.97. The business has a 50 day moving average of $11.54 and a 200-day moving average of $11.65. Snap has a 12-month low of $8.29 and a 12-month high of $17.75. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, equities research analysts expect that Snap will post -0.4 earnings per share for the current year.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 12,315 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the transaction, the general counsel now owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. This represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca Morrow sold 11,154 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the sale, the chief accounting officer now owns 465,064 shares in the company, valued at $4,906,425.20. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,451,618 shares of company stock valued at $17,560,157. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in Snap during the 3rd quarter valued at about $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap during the third quarter valued at approximately $30,000. Advisors Asset Management Inc. grew its holdings in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Snap in the second quarter worth $33,000. Finally, Rothschild Investment LLC bought a new stake in Snap during the 2nd quarter valued at $40,000. Hedge funds and other 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.