Snap Inc. (SNAP) Stock Rating Reaffirmed by Needham & Company LLC
Snap Inc. (NYSE:SNAP)‘s stock had its “underperform” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday.
Several other equities analysts have also commented on the stock. Drexel Hamilton reaffirmed a “buy” rating and set a $30.00 price target on shares of Snap in a research report on Wednesday. Canaccord Genuity reaffirmed a “hold” rating and set a $15.00 price target on shares of Snap in a research report on Sunday. BidaskClub raised shares of Snap from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $14.00 price target (down previously from $16.00) on shares of Snap in a research report on Monday, September 25th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $17.00 price target (up previously from $15.00) on shares of Snap in a research report on Friday, September 15th. Ten research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.21.
Snap (SNAP) traded down 0.34% during mid-day trading on Thursday, reaching $14.48. 13,148,521 shares of the company traded hands. Snap has a 52-week low of $11.28 and a 52-week high of $29.44. The stock has a 50-day moving average of $14.50 and a 200 day moving average of $17.61. The stock’s market capitalization is $17.33 billion.
Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The company had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. The company’s quarterly revenue was up 153.1% on a year-over-year basis. Equities research analysts expect that Snap will post ($0.64) earnings per share for the current year.
In other Snap news, insider Imran Khan sold 350,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $15.00, for a total transaction of $5,250,000.00. Following the transaction, the insider now directly owns 9,946,464 shares in the company, valued at approximately $149,196,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy Sehn sold 400,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the transaction, the vice president now owns 2,204,168 shares in the company, valued at $27,552,100. The disclosure for this sale can be found here. Insiders have sold a total of 2,133,598 shares of company stock worth $29,704,362 over the last quarter.
Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE bought a new position in Snap during the 1st quarter valued at $101,000. Seven Bridges Advisors LLC bought a new position in shares of Snap in the 2nd quarter worth about $101,000. WFG Advisors LP lifted its position in shares of Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after buying an additional 2,537 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Snap by 654.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock worth $134,000 after buying an additional 6,540 shares during the last quarter. Finally, Dubuque Bank & Trust Co. bought a new position in shares of Snap in the 2nd quarter worth about $137,000. Hedge funds and other institutional investors own 16.40% of the company’s stock.
Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
Receive News & Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.