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

Snap Inc. (NYSE:SNAPGet Free Report) has been assigned an average recommendation of “Hold” from the twenty-one brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $13.70.

Several equities analysts recently issued reports on the company. Morgan Stanley decreased their price target on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday, February 7th. Piper Sandler boosted their price target on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Stifel Nicolaus boosted their price target on Snap from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. BMO Capital Markets reduced their target price on Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Rosenblatt Securities boosted their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th.

Read Our Latest Report on SNAP

Snap Price Performance

Shares of SNAP opened at $11.48 on Monday. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of -13.83 and a beta of 1.13. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The business’s 50-day moving average is $12.54 and its 200-day moving average is $12.54.

Snap (NYSE:SNAPGet Free Report) last announced its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Equities research analysts expect that Snap will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the sale, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 9,386 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the sale, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Insiders sold 452,462 shares of company stock valued at $5,078,538 over the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC raised its holdings in shares of Snap by 3.3% in the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after purchasing an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Snap by 7.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after purchasing an additional 930 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Snap by 3.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock worth $533,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in Snap by 4.5% during the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock worth $209,000 after acquiring an additional 1,017 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

About Snap

(Get Free Report

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.

Further Reading

Analyst Recommendations for Snap (NYSE:SNAP)

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