Snap (NYSE:SNAP) Research Coverage Started at B. Riley

Equities researchers at B. Riley began coverage on shares of Snap (NYSE:SNAP) in a research report issued on Friday, Briefing.com reports. The brokerage set a “neutral” rating and a $11.00 price target on the stock. B. Riley’s price target would indicate a potential upside of 9.13% from the company’s current price.

A number of other analysts have also issued reports on SNAP. The Goldman Sachs Group lowered their target price on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Susquehanna dropped their target price on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Snap in a research report on Tuesday, August 6th. Cantor Fitzgerald began coverage on Snap in a report on Thursday, September 5th. They issued a “neutral” rating and a $8.00 price target for the company. Finally, Citigroup dropped their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus target price of $13.76.

Snap Trading Up 4.2 %

Shares of SNAP stock opened at $10.08 on Friday. The company has a market cap of $16.73 billion, a PE ratio of -12.44 and a beta of 1.00. Snap has a 1 year low of $8.28 and a 1 year high of $17.90. The stock’s 50 day simple moving average is $10.70 and its two-hundred day simple moving average is $12.81. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

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

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Rebecca Morrow sold 8,923 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at $4,298,885.50. The disclosure for this sale can be found here. Insiders sold a total of 1,511,540 shares of company stock valued at $13,569,906 in the last three months. 22.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of Snap in the 2nd quarter valued at $33,000. Blue Trust Inc. boosted its stake in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC acquired a new position in shares of Snap in the second quarter valued at approximately $40,000. J.Safra Asset Management Corp increased its stake in Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after buying an additional 2,330 shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in Snap during the 1st quarter worth approximately $100,000. 47.52% of the stock is currently 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.