Snap (NYSE:SNAP) Receives “Neutral” Rating from Roth Mkm

Roth Mkm restated their neutral rating on shares of Snap (NYSE:SNAP) in a research report report published on Tuesday, Benzinga reports. They currently have a $14.00 price objective on the stock.

Several other analysts also recently weighed in on the company. Morgan Stanley dropped their price objective on Snap from $13.00 to $11.00 and set an underweight rating for the company in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and increased their target price for the company from $10.00 to $19.00 in a research report on Friday, January 26th. Royal Bank of Canada dropped their target price on Snap from $17.00 to $13.00 and set a sector perform rating for the company in a research report on Wednesday, February 7th. Truist Financial increased their target price on Snap from $11.00 to $12.00 and gave the company a hold rating in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus dropped their target price on Snap from $14.00 to $12.00 and set a hold rating for the company in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Snap has a consensus rating of Hold and an average price target of $13.86.

Snap Price Performance

SNAP stock opened at $11.40 on Tuesday. 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 simple moving average is $11.20 and its 200 day simple moving average is $12.80. Snap has a 1-year low of $7.86 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. As a group, analysts expect that Snap will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap news, CFO Derek Andersen sold 96,953 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock valued at $5,284,091 over the last 90 days.

Institutional Investors Weigh In On Snap

A number of hedge funds have recently added to or reduced their stakes in SNAP. NBC Securities Inc. grew its stake in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Snap by 75.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares during the period. Allworth Financial LP grew its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after acquiring an additional 1,708 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Snap in the fourth quarter valued at approximately $51,000. Finally, Rakuten Securities Inc. bought a new position in shares of Snap in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.