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

Snap Inc. (NYSE:SNAP) has earned an average rating of “Hold” from the thirty-three analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.60.

A number of research firms have commented on SNAP. Canaccord Genuity Group cut their target price on shares of Snap from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley cut their price target on Snap from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. Finally, The Goldman Sachs Group cut their target price on shares of Snap from $13.50 to $9.50 and set a “neutral” rating for the company in a research report on Monday.

Snap Trading Up 1.6 %

Shares of NYSE:SNAP opened at $7.86 on Friday. Snap has a 1 year low of $7.08 and a 1 year high of $17.33. The stock’s fifty day moving average price is $9.31 and its 200-day moving average price is $10.61. The company has a market cap of $13.34 billion, a P/E ratio of -18.72 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Sell-side analysts expect that Snap will post -0.3 earnings per share for the current year.

Insider Activity

In related news, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,356,523 shares of company stock worth $12,710,077 over the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors purchased a new stake in shares of Snap during the 3rd quarter valued at about $138,000. Quantinno Capital Management LP increased its stake in Snap by 51.5% during the third quarter. Quantinno Capital Management LP now owns 87,685 shares of the company’s stock worth $938,000 after acquiring an additional 29,806 shares during the last quarter. EP Wealth Advisors LLC raised its position in Snap by 15.2% during the third quarter. EP Wealth Advisors LLC now owns 48,713 shares of the company’s stock valued at $521,000 after purchasing an additional 6,413 shares during the period. Orion Portfolio Solutions LLC bought a new stake in shares of Snap in the 3rd quarter valued at approximately $149,000. Finally, MML Investors Services LLC boosted its holdings in shares of Snap by 6.8% in the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after purchasing an additional 1,614 shares during the period. Institutional investors own 47.52% of the company’s stock.

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.