Snap Inc. (SNAP) Given Average Recommendation of “Hold” by Analysts
Snap Inc. (NYSE:SNAP) has received an average recommendation of “Hold” from the forty-seven analysts that are covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a sell recommendation, twenty-three have assigned a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.77.
SNAP has been the topic of a number of research analyst reports. Drexel Hamilton reaffirmed a “buy” rating and set a $30.00 target price on shares of Snap in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $31.00 target price on shares of Snap in a report on Tuesday, July 11th. Vetr lowered Snap from a “strong-buy” rating to a “buy” rating and set a $19.38 target price on the stock. in a report on Tuesday, June 27th. Stifel Nicolaus raised Snap from a “hold” rating to a “buy” rating and lifted their target price for the stock from $15.24 to $22.00 in a report on Thursday, July 13th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $20.00 target price on shares of Snap in a report on Wednesday, August 9th.
Shares of Snap (NYSE SNAP) opened at 14.59 on Wednesday. The firm’s market capitalization is $17.47 billion. Snap has a 52 week low of $11.28 and a 52 week high of $29.44. The company has a 50-day moving average of $14.90 and a 200-day moving average of $16.92.
Snap (NYSE:SNAP) last released its earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). The company had revenue of $181.70 million during the quarter, compared to analysts’ expectations of $186.49 million. The company’s revenue for the quarter was up 153.1% compared to the same quarter last year. On average, equities analysts forecast that Snap will post ($0.65) earnings per share for the current fiscal year.
In other news, CFO Andrew Vollero sold 195,100 shares of Snap stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $2,438,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,882,280 shares in the company, valued at approximately $23,528,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Imran Khan sold 150,000 shares of Snap stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $12.50, for a total value of $1,875,000.00. Following the sale, the insider now owns 9,596,464 shares of the company’s stock, valued at $119,955,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,133,598 shares of company stock valued at $29,704,362.
Institutional investors have recently made changes to their positions in the company. US Bancorp DE acquired a new stake in Snap in the 1st quarter worth approximately $101,000. Seven Bridges Advisors LLC acquired a new stake in Snap in the 2nd quarter worth approximately $101,000. WFG Advisors LP lifted its holdings in 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 purchasing an additional 2,537 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in 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 purchasing an additional 6,540 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in Snap in the 2nd quarter worth approximately $137,000. Institutional investors and hedge funds own 16.60% of the company’s stock.
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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.
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