Snap Inc. (NYSE:SNAP) Given Average Rating of “Hold” by Brokerages

Snap Inc. (NYSE:SNAP) has earned an average recommendation of “Hold” from the thirty-two ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.31.

Several equities research analysts have weighed in on SNAP shares. Truist Financial upped their target price on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Wolfe Research started coverage on Snap in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Bank of America boosted their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald increased their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

Snap Trading Down 0.5 %

Shares of SNAP opened at $11.95 on Tuesday. The stock has a market capitalization of $20.04 billion, a PE ratio of -20.60 and a beta of 0.99. The company’s fifty day moving average is $10.51 and its 200 day moving average is $12.76. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. Sell-side analysts expect that Snap will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 8,923 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the sale, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at $4,298,885.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the transaction, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,365,051 shares of company stock worth $15,965,178. 22.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its position in Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after buying an additional 12,533,653 shares during the period. TB Alternative Assets Ltd. boosted its holdings in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the period. Discovery Capital Management LLC CT acquired a new position in Snap during the 2nd quarter worth $22,591,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after purchasing an additional 1,297,348 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Snap by 74.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after purchasing an additional 1,201,565 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

About Snap

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.