Snap Inc. (NYSE:SNAP) Receives Average Rating of “Hold” from Analysts

Shares of Snap Inc. (NYSE:SNAP) have been assigned an average rating of “Hold” from the thirty ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.8542.

Several brokerages recently weighed in on SNAP. Susquehanna reissued a “neutral” rating and issued a $9.00 price objective on shares of Snap in a research note on Thursday, November 6th. Piper Sandler upped their price target on Snap from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Morgan Stanley decreased their price target on Snap from $8.50 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Stifel Nicolaus set a $7.00 price objective on Snap in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald increased their target price on shares of Snap from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $8.00, for a total value of $8,000,000.00. Following the completion of the transaction, the chief technology officer directly owned 51,911,126 shares of the company’s stock, valued at approximately $415,289,008. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rebecca Morrow sold 12,699 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.34, for a total value of $105,909.66. Following the completion of the transaction, the chief accounting officer directly owned 466,603 shares in the company, valued at $3,891,469.02. This represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,348,471 shares of company stock valued at $10,866,671 over the last three months.

Institutional Investors Weigh In On Snap

A number of hedge funds have recently added to or reduced their stakes in the business. Nuveen LLC bought a new position in shares of Snap during the 1st quarter worth approximately $1,675,000. Corient IA LLC acquired a new position in shares of Snap during the 1st quarter valued at $131,000. Algert Global LLC acquired a new position in shares of Snap during the 1st quarter valued at $344,000. Korea Investment CORP boosted its stake in Snap by 70.1% during the first quarter. Korea Investment CORP now owns 855,374 shares of the company’s stock worth $7,450,000 after acquiring an additional 352,379 shares in the last quarter. Finally, Credit Agricole S A grew its holdings in Snap by 30.0% in the first quarter. Credit Agricole S A now owns 77,581 shares of the company’s stock worth $676,000 after purchasing an additional 17,921 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Performance

Snap stock opened at $7.37 on Wednesday. The business has a 50 day moving average of $7.89 and a 200-day moving average of $8.15. The company has a market capitalization of $12.67 billion, a P/E ratio of -25.41 and a beta of 0.85. Snap has a 1 year low of $6.90 and a 1 year high of $13.28. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Snap will post -0.3 earnings per share for the current year.

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.