Snap (NYSE:SNAP) Stock Price Up 2.1% – Should You Buy?

Snap Inc. (NYSE:SNAP) rose 2.1% on Friday . The company traded as high as $8.04 and last traded at $8.19. Approximately 3,801,158 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 27,337,497 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

SNAP has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, March 31st. Guggenheim reiterated a “neutral” rating on shares of Snap in a research note on Wednesday. Barclays restated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. JMP Securities reiterated a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Finally, Bank of America boosted their price target on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.80.

Snap Trading Up 0.4 %

The business has a fifty day moving average of $9.95 and a two-hundred day moving average of $10.77. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In related news, SVP Eric Young sold 102,152 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. The trade was a 2.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the sale, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,356,523 shares of company stock valued at $12,710,077 over the last quarter. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently modified their holdings of the company. United Bank acquired a new position in Snap in the 3rd quarter valued at $177,000. Captrust Financial Advisors purchased a new position in Snap during the third quarter worth about $138,000. Investment Management Corp of Ontario lifted its position in Snap by 48.0% during the third quarter. Investment Management Corp of Ontario now owns 34,556 shares of the company’s stock worth $370,000 after buying an additional 11,200 shares during the period. IHT Wealth Management LLC acquired a new stake in Snap in the 3rd quarter worth about $607,000. Finally, Quantinno Capital Management LP grew its holdings in Snap by 51.5% in the 3rd quarter. Quantinno Capital Management LP now owns 87,685 shares of the company’s stock valued at $938,000 after buying an additional 29,806 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.