Snap (NYSE:SNAP) Upgraded to “Neutral” at Arete

Arete upgraded shares of Snap (NYSE:SNAP) from a sell rating to a neutral rating in a research report released on Tuesday morning, Marketbeat Ratings reports.

Several other research analysts have also recently issued reports on SNAP. Mizuho started coverage on shares of Snap in a report on Monday, September 29th. They set a “neutral” rating and a $9.00 target price for the company. Bank of America reduced their price objective on Snap from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. JMP Securities reissued a “market perform” rating on shares of Snap in a report on Wednesday, August 6th. Morgan Stanley dropped their target price on Snap from $8.50 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Finally, Wells Fargo & Company boosted their price target on Snap from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.06.

Snap Trading Up 0.9%

Snap stock opened at $8.26 on Tuesday. The stock has a 50-day moving average price of $8.02 and a 200 day moving average price of $8.26. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of -28.46 and a beta of 0.89. Snap has a 52 week low of $6.90 and a 52 week high of $13.28. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 1.57.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company posted ($0.09) EPS. Snap’s quarterly revenue was up 9.8% compared to the same quarter last year. Snap has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Snap will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ajit Mohan sold 28,238 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $7.83, for a total transaction of $221,103.54. Following the transaction, the insider owned 5,436,173 shares in the company, valued at $42,565,234.59. This trade represents a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of Snap stock in a transaction on Friday, August 29th. The shares were sold at an average price of $7.16, for a total transaction of $171,840.00. Following the completion of the sale, the general counsel directly owned 525,254 shares in the company, valued at $3,760,818.64. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,265,675 shares of company stock worth $10,077,045.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in shares of Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after purchasing an additional 1,852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Snap in the 3rd quarter worth about $33,000. Quarry LP purchased a new stake in Snap during the 1st quarter worth approximately $34,000. Itau Unibanco Holding S.A. acquired a new position in shares of Snap during the first quarter valued at approximately $35,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Snap during the third quarter valued at approximately $39,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.