Cantor Fitzgerald Reaffirms “Neutral” Rating for Snap (NYSE:SNAP)

Snap (NYSE:SNAP)‘s stock had its “neutral” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $8.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential downside of 27.07% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on SNAP. Benchmark restated a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Citigroup cut their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group cut their target price on shares of Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $14.00.

Snap Price Performance

SNAP stock traded up $0.10 during mid-day trading on Monday, hitting $10.97. The stock had a trading volume of 7,154,022 shares, compared to its average volume of 27,501,730. The firm has a fifty day simple moving average of $10.11 and a 200 day simple moving average of $12.78. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $18.20 billion, a P/E ratio of -13.46 and a beta of 1.00.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. As a group, research analysts forecast that Snap will post -0.47 EPS for the current year.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on 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 transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now directly owns 463,908 shares of the company’s stock, valued at $6,160,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on 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 transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. The disclosure for this sale can be found here. Insiders have sold a total of 1,493,540 shares of company stock valued at $13,271,826 over the last ninety days. 22.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new stake in shares of Snap in the second quarter valued at about $33,000. Blue Trust Inc. raised its holdings 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 last quarter. Rothschild Investment LLC purchased a new stake in shares of Snap in the second quarter valued at about $40,000. J.Safra Asset Management Corp raised its holdings in shares of Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Snap in the fourth quarter valued at about $108,000. 47.52% of the stock is 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.