Snap (SNAP) Earns Hold Rating from Analysts at Stifel Nicolaus

Stock analysts at Stifel Nicolaus began coverage on shares of Snap (NYSE:SNAP) in a research report issued to clients and investors on Monday. The firm set a “hold” rating and a $13.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential downside of 5.18% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Vetr cut shares of Snap from a “strong-buy” rating to a “buy” rating and set a $16.95 price target on the stock. in a research note on Monday, October 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $20.00 price target on shares of Snap in a research note on Sunday, October 8th. Drexel Hamilton reaffirmed a “buy” rating and set a $28.00 price target on shares of Snap in a research note on Friday, December 15th. Credit Suisse Group reaffirmed a “buy” rating and set a $18.00 price target on shares of Snap in a research note on Tuesday, January 9th. Finally, Zacks Investment Research raised shares of Snap from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, January 17th. Seventeen analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.23.

Shares of Snap (NYSE:SNAP) opened at $13.71 on Monday. Snap has a 12-month low of $11.28 and a 12-month high of $29.44.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.17. Snap had a negative net margin of 463.16% and a negative return on equity of 107.36%. The firm had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. research analysts anticipate that Snap will post -3.03 earnings per share for the current year.

In other Snap news, CEO Evan Spiegel sold 1,652,966 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $12.42, for a total value of $20,529,837.72. Following the completion of the sale, the chief executive officer now owns 86,657,812 shares of the company’s stock, valued at $1,076,290,025.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 10,016 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $12.54, for a total transaction of $125,600.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,513,592 shares of company stock worth $45,994,369.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Snap by 10.0% during the second quarter. BlackRock Inc. now owns 10,343,549 shares of the company’s stock worth $183,805,000 after buying an additional 936,791 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Snap by 23.7% during the second quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock worth $148,446,000 after buying an additional 1,601,170 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Snap by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 7,650,826 shares of the company’s stock worth $110,556,000 after buying an additional 797,290 shares in the last quarter. First Trust Advisors LP grew its position in shares of Snap by 873.8% during the third quarter. First Trust Advisors LP now owns 5,884,101 shares of the company’s stock worth $85,555,000 after buying an additional 5,279,883 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Snap by 73.4% during the third quarter. Allianz Asset Management GmbH now owns 4,529,005 shares of the company’s stock worth $65,852,000 after buying an additional 1,916,830 shares in the last quarter. 18.97% of the stock is owned by institutional investors.

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About Snap

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.

Analyst Recommendations for Snap (NYSE:SNAP)