Snap (NYSE:SNAP) Earns Hold Rating from Benchmark

Snap (NYSE:SNAP)‘s stock had its “hold” rating reissued by Benchmark in a research note issued on Friday, Benzinga reports.

A number of other equities research analysts have also commented on SNAP. Roth Mkm restated a “neutral” rating and set a $14.00 price objective on shares of Snap in a report on Tuesday, April 23rd. BMO Capital Markets dropped their price objective on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. HSBC upgraded shares of Snap from a “reduce” rating to a “buy” rating in a report on Friday. Piper Sandler raised their price objective on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Finally, Morgan Stanley raised their price objective on shares of Snap from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average price target of $14.67.

Snap Price Performance

Shares of SNAP stock opened at $14.55 on Friday. The firm’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $12.84. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a market cap of $24.02 billion, a PE ratio of -17.96 and a beta of 1.13. Snap has a 52-week low of $7.86 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. As a group, analysts forecast that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap 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 sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap 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 sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 470,482 shares of company stock valued at $5,284,091. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC boosted its holdings in Snap by 44,707.8% in the 1st quarter. Lindbrook Capital LLC now owns 355,326 shares of the company’s stock valued at $4,079,000 after purchasing an additional 354,533 shares during the period. TRUE Private Wealth Advisors boosted its holdings in Snap by 6.1% in the 1st quarter. TRUE Private Wealth Advisors now owns 49,642 shares of the company’s stock valued at $570,000 after purchasing an additional 2,850 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Snap by 12.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 209,242 shares of the company’s stock valued at $2,402,000 after purchasing an additional 23,300 shares during the period. Pegasus Partners Ltd. bought a new stake in Snap in the 1st quarter valued at about $367,000. Finally, Zullo Investment Group Inc. bought a new stake in Snap in the 1st quarter valued at about $138,000. Institutional investors own 47.52% of the company’s stock.

About Snap

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.