Snap Inc. (NYSE:SNAP) Given Consensus Recommendation of “Buy” by Analysts

Snap Inc. (NYSE:SNAP – Get Rating) has been given an average rating of “Buy” by the thirty-eight analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $39.73.

A number of equities analysts recently weighed in on SNAP shares. Truist Financial lowered their price objective on shares of Snap from $60.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley cut their price target on Snap from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, April 22nd. Piper Sandler cut their price target on Snap from $50.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday. Cowen cut their target price on shares of Snap to $17.00 in a research note on Wednesday. Finally, Royal Bank of Canada dropped their price objective on shares of Snap from $35.00 to $17.00 in a research note on Tuesday.

In other Snap news, General Counsel Michael J. O’sullivan sold 12,500 shares of Snap stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $39.85, for a total transaction of $498,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 15,773 shares of Snap stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $28.92, for a total transaction of $456,155.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,555,687 shares of company stock valued at $44,789,003.

Hedge funds have recently modified their holdings of the business. Gradient Investments LLC grew its position in shares of Snap by 42.6% during the 1st quarter. Gradient Investments LLC now owns 282,435 shares of the company’s stock valued at $10,165,000 after purchasing an additional 84,387 shares in the last quarter. Neuberger Berman Group LLC grew its position in Snap by 158.7% in the first quarter. Neuberger Berman Group LLC now owns 3,830,524 shares of the company’s stock worth $137,860,000 after acquiring an additional 2,349,925 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Snap by 2,103.1% in the first quarter. The Manufacturers Life Insurance Company now owns 708,094 shares of the company’s stock worth $26,053,000 after acquiring an additional 675,953 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Snap by 27.8% in the first quarter. Chicago Partners Investment Group LLC now owns 15,438 shares of the company’s stock worth $351,000 after acquiring an additional 3,355 shares in the last quarter. Finally, Capital Group International Inc. CA grew its position in Snap by 42.2% in the first quarter. Capital Group International Inc. CA now owns 778,686 shares of the company’s stock worth $28,025,000 after acquiring an additional 231,196 shares in the last quarter. 53.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of SNAP opened at $14.81 on Friday. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $24.23 billion, a P/E ratio of -41.14 and a beta of 1.18. The firm has a 50-day moving average price of $29.84 and a 200 day moving average price of $37.61. Snap has a 12-month low of $12.55 and a 12-month high of $83.34.

Snap (NYSE:SNAP – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.03). Snap had a negative net margin of 12.71% and a negative return on equity of 16.37%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. Equities research analysts predict that Snap will post -0.43 earnings per share for the current fiscal year.

Snap Company Profile (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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