Snap Inc. (NYSE:SNAP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Snap Inc. (NYSE:SNAP) have been assigned a consensus rating of “Hold” from the thirty-three brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twenty-five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $36.87.

A number of brokerages recently commented on SNAP. BMO Capital Markets reissued an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Susquehanna increased their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Barclays reaffirmed an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. UBS Group lifted their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Loop Capital upped their price objective on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th.

Insider Activity

In related news, CAO Rebecca Morrow sold 32,000 shares of Snap stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00. Following the transaction, the chief accounting officer now owns 433,064 shares in the company, valued at approximately $5,378,654.88. This trade represents a 6.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 94,164 shares of Snap stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at $25,097,140.64. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,029 shares of company stock valued at $2,991,695.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. bought a new position in Snap in the fourth quarter worth about $27,000. Advisors Asset Management Inc. grew its position in Snap by 141.9% during the 3rd 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 in the last quarter. Raiffeisen Bank International AG purchased a new position in Snap during the 4th quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap during the 4th quarter valued at $32,000. Finally, Brooklyn Investment Group bought a new stake in Snap in the third quarter worth $41,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Trading Down 2.3 %

NYSE SNAP opened at $10.79 on Thursday. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a 50 day simple moving average of $11.22 and a two-hundred day simple moving average of $10.73. The stock has a market cap of $18.30 billion, a P/E ratio of -25.68 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Snap will post -0.3 earnings per share for the current year.

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.