Snap Inc. (NYSE:SNAP) Receives Average Rating of “Hold” from Brokerages

Snap Inc. (NYSE:SNAP) has been given an average recommendation of “Hold” by the thirty-two ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $14.31.

Several research firms recently commented on SNAP. JPMorgan Chase & Co. dropped their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Truist Financial increased their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lowered their price objective on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company cut their target price on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, Canaccord Genuity Group boosted their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th.

Insider Activity at Snap

In other Snap news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Eric Young sold 114,097 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total value of $221,580.00. Following the completion of the transaction, the general counsel now owns 471,058 shares of the company’s stock, valued at approximately $5,798,723.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,365,051 shares of company stock worth $15,965,178 in the last 90 days. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its holdings in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. lifted its holdings in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Discovery Capital Management LLC CT purchased a new position in shares of Snap in the 2nd quarter worth $22,591,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after acquiring an additional 1,297,348 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Snap by 74.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after acquiring an additional 1,201,565 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Stock Down 0.5 %

Shares of NYSE:SNAP opened at $11.95 on Tuesday. Snap has a 1 year low of $8.29 and a 1 year high of $17.90. The company has a market capitalization of $20.04 billion, a PE ratio of -20.60 and a beta of 0.99. The business has a fifty day moving average price of $10.51 and a two-hundred day moving average price of $12.76. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.21) earnings per share. Analysts forecast that Snap will post -0.41 earnings per share for the current year.

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.