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

Snap Inc. (NYSE:SNAP) has been assigned an average rating of “Hold” from the thirty brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $9.8750.

A number of brokerages recently commented on SNAP. BMO Capital Markets raised their price objective on shares of Snap from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Citigroup lifted their price target on Snap from $8.50 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Mizuho initiated coverage on Snap in a report on Monday, September 29th. They issued a “neutral” rating and a $9.00 price target on the stock. New Street Research downgraded Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a research report on Wednesday, October 8th.

Insider Buying and Selling

In related news, insider Ajit Mohan sold 28,137 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $7.21, for a total value of $202,867.77. Following the completion of the transaction, the insider owned 5,298,664 shares of the company’s stock, valued at approximately $38,203,367.44. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 70,882 shares of Snap stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.34, for a total transaction of $591,155.88. Following the completion of the sale, the general counsel owned 1,854,982 shares in the company, valued at $15,470,549.88. The trade was a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,401,016 shares of company stock valued at $11,231,284 over the last ninety days. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several institutional investors and hedge funds have recently bought and sold shares of the business. Murphy Middleton Hinkle & Parker Inc. bought a new stake in shares of Snap in the fourth quarter valued at about $84,000. SG Americas Securities LLC raised its stake in Snap by 26.1% in the 4th quarter. SG Americas Securities LLC now owns 3,134,605 shares of the company’s stock worth $25,296,000 after purchasing an additional 648,240 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Snap by 537.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock worth $33,492,000 after purchasing an additional 3,499,578 shares in the last quarter. Gradient Investments LLC boosted its holdings in Snap by 8.8% in the 4th quarter. Gradient Investments LLC now owns 168,968 shares of the company’s stock valued at $1,364,000 after purchasing an additional 13,599 shares during the period. Finally, RDA Financial Network grew its position in shares of Snap by 15.5% during the 4th quarter. RDA Financial Network now owns 13,884 shares of the company’s stock worth $112,000 after purchasing an additional 1,865 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Trading Down 2.3%

NYSE:SNAP opened at $8.21 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67. The business’s 50-day simple moving average is $7.94 and its 200-day simple moving average is $8.12. Snap has a fifty-two week low of $6.90 and a fifty-two week high of $13.28. The stock has a market capitalization of $14.11 billion, a PE ratio of -28.29 and a beta of 0.81.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted ($0.09) earnings per share. Snap’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Snap will post -0.3 earnings per share for the current fiscal year.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.