Snap Inc. (NYSE:SNAP) Given Average Rating of “Hold” by Analysts

Shares of Snap Inc. (NYSE:SNAP) have been given an average recommendation of “Hold” by the thirty-two analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $13.76.

A number of equities research analysts recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Snap in a research note on Wednesday, September 18th. Barclays lowered their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Argus upgraded Snap to a “hold” rating in a research note on Thursday, August 8th. Hsbc Global Res cut Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Susquehanna decreased their price target on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd.

Snap Price Performance

SNAP opened at $10.05 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of -12.41 and a beta of 1.00. The firm’s fifty day moving average price is $10.58 and its two-hundred day moving average price is $12.83. Snap has a 1 year low of $8.28 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share 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 the consensus estimate of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, analysts anticipate that Snap will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, 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 completion of the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Snap news, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the sale, the senior vice president now directly owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,511,540 shares of company stock valued at $13,569,906. 22.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap

Large investors have recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Snap during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. grew its stake in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares during the period. Rothschild Investment LLC bought a new position in shares of Snap during the 2nd quarter valued at approximately $40,000. J.Safra Asset Management Corp grew its stake in shares of Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares during the period. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Snap during the 1st quarter valued at approximately $100,000. 47.52% of the stock is currently owned by 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.