Snap (NYSE:SNAP) Cut to Neutral at Guggenheim

Guggenheim lowered shares of Snap (NYSE:SNAP) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat reports.

Several other analysts also recently weighed in on the stock. Susquehanna lifted their price target on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price target on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $36.87.

Snap Stock Up 4.7 %

Shares of NYSE:SNAP opened at $11.23 on Tuesday. Snap has a 1 year low of $8.29 and a 1 year high of $17.33. The business has a 50 day simple moving average of $11.36 and a two-hundred day simple moving average of $10.78. The firm has a market capitalization of $18.84 billion, a PE ratio of -26.74 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, equities analysts predict that Snap will post -0.26 EPS for the current year.

Insider Activity

In other news, CAO Rebecca Morrow sold 2,812 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the sale, the chief accounting officer now directly owns 430,252 shares of the company’s stock, valued at $4,922,082.88. The trade was a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,518 shares of company stock valued at $4,947,981 over the last ninety days. 22.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. TB Alternative Assets Ltd. boosted its holdings in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Snap in the third quarter valued at $1,345,000. Invenomic Capital Management LP purchased a new stake in Snap in the third quarter valued at $2,349,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Snap by 49.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock worth $28,245,000 after acquiring an additional 879,212 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.