Snap (NYSE:SNAP) Lowered to “Hold” Rating by Citizens Jmp

Citizens Jmp lowered shares of Snap (NYSE:SNAP) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

SNAP has been the topic of several other research reports. JMP Securities reissued a “market outperform” rating and set a $16.00 price target on shares of Snap in a research report on Monday, January 27th. Susquehanna upped their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday. Canaccord Genuity Group boosted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Snap in a report on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.87.

Snap Price Performance

Snap stock opened at $10.68 on Wednesday. Snap has a 52-week low of $8.29 and a 52-week high of $17.33. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of -18.40 and a beta of 0.99. The company has a fifty day simple moving average of $11.51 and a 200-day simple moving average of $10.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. On average, equities analysts anticipate that Snap will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now directly owns 480,498 shares in the company, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 17,789 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the completion of the transaction, the chief financial officer now owns 2,176,017 shares in the company, valued at $26,112,204. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,184 shares of company stock worth $4,968,189.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently added to or reduced their stakes in SNAP. TB Alternative Assets Ltd. increased its holdings in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after buying an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after purchasing an additional 1,297,348 shares during the period. Groupama Asset Managment bought a new stake in shares of Snap in the third quarter valued at approximately $13,032,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after acquiring an additional 1,050,501 shares during the period. Institutional investors and hedge funds 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.