Snap (NYSE:SNAP) Upgraded by B. Riley to Hold

B. Riley upgraded shares of Snap (NYSE:SNAP) to a hold rating in a research note released on Thursday, Zacks.com reports.

Other analysts also recently issued reports about the company. Cantor Fitzgerald started coverage on Snap in a report on Thursday, September 5th. They issued a neutral rating and a $8.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Snap from $13.00 to $11.00 and set an underweight rating for the company in a report on Friday, August 2nd. HSBC cut shares of Snap from a buy rating to a hold rating in a research report on Friday, August 2nd. Benchmark reissued a hold rating on shares of Snap in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their price objective on shares of Snap from $16.00 to $12.00 and set a neutral rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $13.76.

Snap Trading Down 0.1 %

Shares of SNAP opened at $10.06 on Thursday. The stock has a fifty day moving average of $10.58 and a two-hundred day moving average of $12.81. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The company has a market capitalization of $16.69 billion, a PE ratio of -12.42 and a beta of 1.00. Snap has a fifty-two week low of $8.28 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate 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, analysts forecast that Snap will post -0.48 EPS for the current year.

Insider Buying and Selling at Snap

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

Institutional Trading of Snap

Large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted 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 worth $698,000 after purchasing an additional 891 shares during the period. GraniteShares Advisors LLC boosted its stake in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after purchasing an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. boosted its stake in Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Snap by 4.0% in the 2nd 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 period. Finally, B. Riley Wealth Advisors Inc. boosted 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 worth $333,000 after purchasing an additional 1,232 shares during the period. 47.52% of the stock is currently 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.