JMP Securities Reiterates “Market Outperform” Rating for Snap (NYSE:SNAP)

Snap (NYSE:SNAP)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a research note issued on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. JMP Securities’ target price suggests a potential upside of 33.67% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Citigroup increased their price target on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. Bank of America lifted their target price on shares of Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald lifted their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap presently has an average rating of “Hold” and an average target price of $37.10.

Snap Trading Up 6.5 %

Shares of SNAP opened at $11.97 on Friday. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of -20.64 and a beta of 0.97. The firm has a 50 day moving average price of $11.54 and a 200-day moving average price of $11.65. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.75. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) earnings per share. As a group, equities research analysts forecast that Snap will post -0.4 earnings per share for the current year.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the sale, the general counsel now owns 498,498 shares of the company’s stock, valued at $5,403,718.32. This represents a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca Morrow sold 2,812 shares of the firm’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 transaction of $32,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 430,252 shares in the company, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock valued at $17,560,157 in the last ninety days. 22.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snap

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Snap during the third quarter valued at $29,000. Paladin Wealth LLC purchased a new position in shares of Snap during the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. lifted its position in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Snap during the 2nd quarter valued at approximately $33,000. Finally, Rothschild Investment LLC purchased a new stake in Snap in the 2nd quarter worth approximately $40,000. Institutional investors own 47.52% of the company’s stock.

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.