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

Snap Inc. (NYSE:SNAP) has been given a consensus recommendation of “Hold” by the thirty-three ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twenty-five have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $36.87.

Several research analysts have commented on SNAP shares. Bank of America lifted their price target on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. 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 report on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Snap in a report on Wednesday, October 30th.

Snap Stock Performance

NYSE SNAP opened at $10.15 on Thursday. The company has a market capitalization of $17.21 billion, a P/E ratio of -24.15 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap has a 52-week low of $8.29 and a 52-week high of $17.33. The company has a fifty day moving average of $11.14 and a 200-day moving average of $10.79.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities research analysts predict that Snap will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the transaction, the general counsel now directly owns 498,498 shares of the company’s stock, valued at approximately $5,403,718.32. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca Morrow sold 2,812 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the sale, the chief accounting officer now directly owns 430,252 shares of the company’s stock, 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 quarter, insiders sold 499,471 shares of company stock valued at $5,608,926. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several hedge funds have recently bought and sold shares of the stock. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap in the fourth quarter worth about $27,000. Advisors Asset Management Inc. grew its holdings in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Snap in the 4th quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Snap during the 4th quarter worth approximately $32,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Snap during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.