Snap (NYSE:SNAP) Given Market Perform Rating at JMP Securities

JMP Securities restated their market perform rating on shares of Snap (NYSE:SNAP) in a research note released on Wednesday morning, Benzinga reports.

Several other equities analysts also recently issued reports on the stock. HSBC downgraded shares of Snap from a buy rating to a hold rating in a research note on Friday, August 2nd. The Goldman Sachs Group cut their target price on Snap from $16.00 to $12.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on Snap in a research note on Thursday, September 5th. They issued a neutral rating and a $8.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Snap from $17.00 to $14.00 and set a buy rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America decreased their target price on shares of Snap from $16.00 to $13.00 and set a neutral rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $13.87.

Snap Trading Up 2.7 %

Shares of SNAP stock opened at $9.67 on Wednesday. Snap has a twelve month low of $8.28 and a twelve month high of $17.90. The stock’s fifty day simple moving average is $10.82 and its 200 day simple moving average is $12.83. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $15.87 billion, a P/E ratio of -11.94 and a beta of 1.01.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. As a group, sell-side analysts predict that Snap will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the sale, the general counsel now directly owns 481,908 shares of the company’s stock, valued at approximately $7,980,396.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the transaction, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,511,540 shares of company stock worth $13,569,906. 22.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its stake in Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after buying an additional 891 shares during the last quarter. GraniteShares Advisors LLC increased its position in shares of Snap by 2.5% during the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after acquiring an additional 941 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its holdings in Snap by 2.7% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after acquiring an additional 956 shares during the period. Concurrent Investment Advisors LLC boosted its position in Snap by 4.0% in the second 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 during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in Snap by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after purchasing an additional 1,232 shares during the period. 47.52% of the stock is owned by institutional investors.

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.