Snap (NYSE:SNAP) Stock Rating Upgraded by Arete Research

Snap (NYSE:SNAP) was upgraded by equities researchers at Arete Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Marketbeat reports. The brokerage presently has a $7.30 price objective on the stock. Arete Research’s price target suggests a potential upside of 46.15% from the company’s previous close.

Other analysts have also issued research reports about the company. BNP Paribas Exane started coverage on Snap in a report on Wednesday, January 14th. They issued a “strong sell” rating on the stock. Susquehanna dropped their target price on shares of Snap from $9.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, February 5th. New Street Research cut shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 28th. Wells Fargo & Company reduced their price target on shares of Snap from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Finally, Mizuho dropped their price objective on shares of Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.63.

Snap Stock Down 4.5%

Shares of NYSE SNAP opened at $5.00 on Tuesday. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of -18.50 and a beta of 0.83. Snap has a 52 week low of $4.98 and a 52 week high of $11.26. The firm has a 50-day moving average price of $7.43 and a 200 day moving average price of $7.72. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 1.53.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.01 earnings per share. Equities research analysts anticipate that Snap will post -0.3 EPS for the current fiscal year.

Insider Transactions at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $5.27, for a total value of $5,270,000.00. Following the completion of the transaction, the chief technology officer directly owned 50,613,777 shares in the company, valued at approximately $266,734,604.79. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Derek Andersen sold 62,868 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.34, for a total value of $524,319.12. Following the sale, the chief financial officer owned 3,030,301 shares in the company, valued at approximately $25,272,710.34. This trade represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,393,341 shares of company stock worth $13,799,210 in the last 90 days. 22.68% of the stock is currently owned by company insiders.

Institutional Trading of Snap

Several institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its holdings in Snap by 7.4% during the 4th quarter. Empowered Funds LLC now owns 58,543 shares of the company’s stock worth $472,000 after purchasing an additional 4,037 shares during the last quarter. Inceptionr LLC bought a new position in Snap during the fourth quarter worth $303,000. Deutsche Bank AG boosted its position in Snap by 63.8% during the fourth quarter. Deutsche Bank AG now owns 4,799,998 shares of the company’s stock valued at $38,736,000 after acquiring an additional 1,870,151 shares during the last quarter. Fox Run Management L.L.C. boosted its position in shares of Snap by 524.7% during the 4th quarter. Fox Run Management L.L.C. now owns 66,663 shares of the company’s stock valued at $538,000 after purchasing an additional 55,991 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Snap by 54.6% during the fourth quarter. Cerity Partners LLC now owns 271,596 shares of the company’s stock worth $2,192,000 after purchasing an additional 95,939 shares during the period. 47.52% of the stock is currently owned by institutional investors.

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.