Barclays Reaffirms “Overweight” Rating for Snap (NYSE:SNAP)

Snap (NYSE:SNAP)‘s stock had its “overweight” rating reaffirmed by Barclays in a research report issued on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts have also weighed in on SNAP. 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. Loop Capital increased their price target on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus decreased their price target on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Truist Financial increased their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Trading Up 0.4 %

Shares of SNAP opened at $10.68 on Wednesday. Snap has a 12-month low of $8.29 and a 12-month high of $17.33. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of -18.40 and a beta of 0.99. The stock’s 50-day moving average price is $11.51 and its 200 day moving average price is $10.89. 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 released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. As a group, research analysts predict that Snap will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $32,169.28. Following the sale, the chief accounting officer now owns 430,252 shares of the company’s stock, valued at $4,922,082.88. This trade represents a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of Snap stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the sale, the general counsel now directly owns 1,195,567 shares in the company, valued at $12,601,276.18. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 445,184 shares of company stock valued at $4,968,189.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of Snap by 16.4% in the second quarter. The Manufacturers Life Insurance Company now owns 65,276 shares of the company’s stock valued at $1,084,000 after acquiring an additional 9,185 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Snap by 23.7% in the second quarter. Cetera Investment Advisers now owns 104,470 shares of the company’s stock valued at $1,735,000 after acquiring an additional 20,038 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Snap in the second quarter valued at about $994,000. Handelsbanken Fonder AB increased its position in shares of Snap by 6.7% in the third quarter. Handelsbanken Fonder AB now owns 187,407 shares of the company’s stock valued at $2,005,000 after acquiring an additional 11,830 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Snap in the third quarter valued at about $832,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.