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

Shares of Snap Inc. (NYSE:SNAP) have earned an average rating of “Hold” from the twenty analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.86.

A number of equities research analysts have recently weighed in on SNAP shares. Rosenblatt Securities lifted their price target on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Susquehanna lifted their price target on shares of Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. BMO Capital Markets dropped their price target on shares of Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. The Goldman Sachs Group dropped their price target on shares of Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.00, for a total value of $26,862.00. Following the sale, the chief accounting officer now owns 493,084 shares of the company’s stock, valued at $5,423,924. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 2,442 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the sale, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 over the last 90 days. 22.68% of the stock is owned by insiders.

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. 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 acquired a new stake in Snap in the fourth quarter valued at approximately $51,000. 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. Finally, Rakuten Securities Inc. acquired a new stake in Snap in the fourth quarter valued at approximately $73,000. 47.52% of the stock is currently owned by institutional investors.

Snap Trading Up 2.9 %

Shares of NYSE:SNAP opened at $11.40 on Friday. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The stock has a market cap of $18.82 billion, a PE ratio of -13.73 and a beta of 1.13. The business has a 50 day moving average of $11.20 and a 200-day moving average of $12.80. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.39 billion. As a group, equities research analysts forecast that Snap will post -0.58 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.