Snap (NYSE:SNAP) had its price objective boosted by Bank of America from $12.00 to $17.00 in a research note published on Thursday, BenzingaRatingsTable reports. They currently have a neutral rating on the stock.
A number of other analysts have also recently issued reports on SNAP. Canaccord Genuity set a C$16.50 price objective on Detour Gold and gave the company a buy rating in a research report on Wednesday, April 24th. UBS Group boosted their price objective on W. R. Berkley from $53.00 to $56.00 and gave the company a sell rating in a research report on Wednesday, April 24th. Stifel Nicolaus cut Owens Corning from a buy rating to a hold rating and set a $52.45 price objective on the stock. in a research report on Wednesday, April 24th. Zacks Investment Research cut Heritage Insurance from a hold rating to a strong sell rating in a research report on Friday, April 26th. Finally, Wedbush restated an outperform rating and set a $95.00 price objective on shares of Global Blood Therapeutics in a research report on Thursday, April 18th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have issued a buy rating to the stock. Snap has a consensus rating of Hold and an average price target of $12.09.
SNAP opened at $15.61 on Thursday. The company has a market capitalization of $21.09 billion, a PE ratio of -16.09 and a beta of 1.08. The company has a current ratio of 4.75, a quick ratio of 4.75 and a debt-to-equity ratio of 0.15. Snap has a 1 year low of $4.82 and a 1 year high of $16.24. The company’s 50 day moving average price is $13.81.
Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $320.43 million for the quarter, compared to the consensus estimate of $306.28 million. Snap had a negative net margin of 92.94% and a negative return on equity of 47.71%. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Analysts anticipate that Snap will post -0.76 earnings per share for the current year.
In other Snap news, VP Jerry James Hunter sold 8,770 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $11.72, for a total value of $102,784.40. Following the transaction, the vice president now owns 1,677,417 shares of the company’s stock, valued at $19,659,327.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 9,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $12.00, for a total value of $108,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,551,175 shares in the company, valued at approximately $18,614,100. The disclosure for this sale can be found here. Insiders have sold 2,748,027 shares of company stock worth $34,004,202 in the last ninety days.
Large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB grew its holdings in shares of Snap by 157.1% during the second quarter. Xact Kapitalforvaltning AB now owns 123,720 shares of the company’s stock worth $1,769,000 after buying an additional 75,606 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Snap by 400.0% during the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock worth $36,000 after buying an additional 2,000 shares in the last quarter. Gulf International Bank UK Ltd bought a new position in shares of Snap during the second quarter worth about $2,352,000. DNB Asset Management AS bought a new position in shares of Snap during the second quarter worth about $976,000. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Snap by 5,462.3% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 145,175 shares of the company’s stock worth $1,600,000 after buying an additional 142,565 shares in the last quarter. 26.08% of the stock is currently owned by hedge funds and other institutional investors.
Snap Company Profile
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 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 surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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