Snap (SNAP) – Investment Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Snap (NYSE: SNAP):

  • 5/8/2018 – Snap had its “buy” rating reaffirmed by analysts at Aegis. They now have a $12.00 price target on the stock, down previously from $18.00.
  • 5/7/2018 – Snap had its “hold” rating reaffirmed by analysts at Wells Fargo. They wrote, “Wells Fargo Securities, LLC’s research analysts receive compensation that is based upon and impacted by the overall profitability and revenue of the firm, which includes, but is not limited to investment banking revenue.””
  • 5/2/2018 – Snap had its price target lowered by analysts at Morgan Stanley from $12.00 to $8.00. They now have an “underweight” rating on the stock.
  • 5/2/2018 – Snap was downgraded by analysts at Evercore ISI from an “in-line” rating to an “underperform” rating. They now have a $7.00 price target on the stock.
  • 5/2/2018 – Snap was downgraded by analysts at Summit Insights from a “hold” rating to a “sell” rating.
  • 5/2/2018 – Snap had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $16.00 price target on the stock.
  • 5/2/2018 – Snap had its price target lowered by analysts at Piper Jaffray from $17.00 to $11.50. They now have a “neutral” rating on the stock.
  • 5/2/2018 – Snap had its “market perform” rating reaffirmed by analysts at CIBC.
  • 5/2/2018 – Snap was downgraded by analysts at Oppenheimer Holdings from an “outperform” rating to a “market perform” rating.
  • 5/2/2018 – Snap had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings. They now have a $14.00 price target on the stock.
  • 5/2/2018 – Snap had its price target lowered by analysts at Jefferies Group LLC to $14.00. They now have a “hold” rating on the stock.
  • 4/30/2018 – Snap had its price target raised by analysts at Deutsche Bank to $15.00. They now have a “hold” rating on the stock.
  • 4/27/2018 – Snap had its price target lowered by analysts at Cowen Inc from $14.00 to $12.00. They now have an “underperform” rating on the stock.
  • 4/27/2018 – Snap was given a new $13.00 price target on by analysts at Wedbush. They now have a “hold” rating on the stock.
  • 4/20/2018 – Snap had its price target raised by analysts at Credit Suisse Group from $20.00 to $21.00. They now have an “outperform” rating on the stock.
  • 4/19/2018 – Snap had its price target raised by analysts at Morgan Stanley from $11.00 to $12.00. They now have an “underweight” rating on the stock.
  • 4/11/2018 – Snap had its “neutral” rating reaffirmed by analysts at Monness Crespi & Hardt.

NYSE SNAP opened at $10.57 on Friday. Snap Inc. has a 12-month low of $10.57 and a 12-month high of $10.75. The company has a market cap of $13.40 billion, a price-to-earnings ratio of -5.08 and a beta of -2.52.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, May 1st. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.16. The business had revenue of $230.70 million for the quarter, compared to analysts’ expectations of $244.57 million. Snap had a negative return on equity of 49.23% and a negative net margin of 179.04%. The company’s revenue was up 54.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.31) EPS. sell-side analysts forecast that Snap Inc. will post -1.16 earnings per share for the current fiscal year.

In related news, Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $19.27, for a total value of $481,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan Spiegel sold 1,501,300 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $16.91, for a total value of $25,386,983.00. Following the completion of the sale, the chief executive officer now owns 83,830,471 shares in the company, valued at approximately $1,417,573,264.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,157,069 shares of company stock worth $36,265,412.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Steward Partners Investment Advisory LLC lifted its stake in Snap by 967.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock valued at $116,000 after buying an additional 7,255 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Snap in the 1st quarter valued at approximately $134,000. Aperio Group LLC purchased a new stake in Snap in the 4th quarter valued at approximately $149,000. First Allied Advisory Services Inc. purchased a new stake in Snap in the 4th quarter valued at approximately $152,000. Finally, Garde Capital Inc. purchased a new stake in Snap in the 4th quarter valued at approximately $160,000. Institutional investors and hedge funds own 17.84% of the company’s stock.

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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