Snap Inc. (NYSE:SNAP) Given Consensus Rating of “Hold” by Brokerages

Snap Inc. (NYSE:SNAP) has been assigned a consensus rating of “Hold” from the thirty-two ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $36.99.

Several equities research analysts have commented on SNAP shares. BMO Capital Markets restated an “outperform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. The Goldman Sachs Group raised their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald increased their target price on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, B. Riley lifted their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 2,812 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $32,169.28. Following the transaction, the chief accounting officer now directly owns 430,252 shares in the company, valued at approximately $4,922,082.88. This represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the transaction, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,451,618 shares of company stock valued at $17,560,157. 22.68% of the stock is owned by company insiders.

Institutional Trading of Snap

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the third quarter valued at about $29,000. Paladin Wealth LLC acquired a new stake in Snap in the 3rd quarter valued at approximately $30,000. Advisors Asset Management Inc. raised its position in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the period. Brooklyn Investment Group acquired a new position in Snap during the third quarter worth $41,000. Finally, Blue Trust Inc. boosted its position in shares of Snap by 136.3% during the fourth quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock worth $48,000 after buying an additional 2,612 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Trading Up 3.0 %

Snap stock opened at $10.90 on Friday. The stock has a 50-day moving average price of $11.48 and a 200 day moving average price of $11.14. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of -18.78 and a beta of 0.98. Snap has a 52 week low of $8.29 and a 52 week high of $17.50. 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 announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating 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 quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS. Sell-side analysts anticipate that Snap will post -0.39 EPS 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.