Snap Inc. (NYSE:SNAP) Given Average Recommendation of “Hold” by Analysts

Snap Inc. (NYSE:SNAP) has been assigned an average rating of “Hold” from the thirty-two ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $37.10.

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Snap in a research note on Friday, October 25th. Citigroup upped their price objective on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Roth Mkm reiterated a “neutral” rating and issued a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th.

Snap Trading Up 6.5 %

SNAP opened at $11.97 on Wednesday. Snap has a 52 week low of $8.29 and a 52 week high of $17.75. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $11.54 and a 200-day simple moving average of $11.63. The firm has a market cap of $20.08 billion, a P/E ratio of -20.64 and a beta of 0.98.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the business posted ($0.21) EPS. On average, equities analysts expect that Snap will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O’sullivan sold 12,315 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the sale, the general counsel now owns 1,195,567 shares in the company, valued at $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares in the company, valued at approximately $4,922,082.88. This trade represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,451,618 shares of company stock worth $17,560,157. 22.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snap

Several hedge funds have recently bought and sold shares of SNAP. V Square Quantitative Management LLC acquired a new stake in Snap in the 3rd quarter valued at about $29,000. Paladin Wealth LLC purchased a new stake in Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. grew its holdings in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the period. Hollencrest Capital Management purchased a new stake in shares of Snap during the 2nd quarter valued at $33,000. Finally, Rothschild Investment LLC acquired a new stake in Snap during the second quarter worth about $40,000. 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.