Snap’s (SNAP) Neutral Rating Reiterated at Roth Mkm

Snap (NYSE:SNAP)‘s stock had its “neutral” rating reissued by analysts at Roth Mkm in a research report issued on Wednesday, Benzinga reports. They presently have a $14.00 price target on the stock. Roth Mkm’s price objective suggests a potential upside of 48.54% from the company’s current price.

Several other research firms have also issued reports on SNAP. The Goldman Sachs Group decreased their price target on shares of Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Bank of America cut their price target on Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Wolfe Research initiated coverage on Snap in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Snap from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.87.

Snap Stock Performance

SNAP opened at $9.43 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock’s 50 day moving average price is $10.97 and its two-hundred day moving average price is $12.85. The firm has a market capitalization of $15.47 billion, a P/E ratio of -11.64 and a beta of 1.01. Snap has a 12-month low of $8.28 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. On average, equities analysts forecast that Snap will post -0.48 earnings per share for the current year.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the sale, the chief accounting officer now owns 472,405 shares in the company, valued at $4,298,885.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the transaction, the chief accounting officer now directly owns 472,405 shares in the company, valued at $4,298,885.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the sale, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,352,420 shares of company stock worth $12,091,682. 22.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC boosted its holdings in Snap by 12.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock valued at $683,000 after acquiring an additional 4,307 shares during the last quarter. Carmignac Gestion acquired a new stake in shares of Snap during the 4th quarter worth approximately $110,103,000. TCW Group Inc. acquired a new stake in shares of Snap during the 4th quarter worth approximately $275,000. V Square Quantitative Management LLC raised its stake in shares of Snap by 72.7% during the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after buying an additional 4,679 shares during the last quarter. Finally, Alta Park Capital LP acquired a new position in Snap in the fourth quarter valued at approximately $13,845,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.