Roth Mkm Reaffirms “Neutral” Rating for Snap (NYSE:SNAP)

Roth Mkm reaffirmed their neutral rating on shares of Snap (NYSE:SNAP) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $14.00 price target on the stock.

A number of other research analysts also recently weighed in on the company. Benchmark reiterated a hold rating on shares of Snap in a report on Tuesday, August 6th. HSBC downgraded Snap from a buy rating to a hold rating in a report on Friday, August 2nd. Hsbc Global Res downgraded Snap from a strong-buy rating to a hold rating in a report on Friday, August 2nd. Citigroup lowered their price target on Snap from $16.00 to $11.00 and set a neutral rating on the stock in a report on Monday, August 12th. Finally, Argus upgraded Snap to a hold rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $13.87.

Snap Stock Up 2.7 %

Shares of Snap stock opened at $9.67 on Wednesday. The stock’s fifty day moving average is $10.82 and its 200-day moving average is $12.83. The firm has a market capitalization of $15.87 billion, a PE ratio of -11.94 and a beta of 1.01. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap has a 12-month low of $8.28 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities analysts anticipate that Snap will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the sale, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was 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 owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. Insiders sold 1,511,540 shares of company stock valued at $13,569,906 over the last quarter. Insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its holdings 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 acquiring an additional 891 shares in the last quarter. GraniteShares Advisors LLC raised its holdings in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after acquiring an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its holdings in Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after acquiring an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after acquiring an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings 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 acquiring an additional 1,232 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.