Arete Research Upgrades Snap (NYSE:SNAP) to Hold

Snap (NYSE:SNAP) was upgraded by research analysts at Arete Research to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald increased their price target on shares of Snap from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Arete upgraded Snap from a “sell” rating to a “neutral” rating in a research note on Tuesday. Bank of America reduced their target price on shares of Snap from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, August 6th. BMO Capital Markets lifted their price target on shares of Snap from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average target price of $35.06.

Snap Stock Performance

SNAP traded up $0.05 during midday trading on Tuesday, hitting $8.08. 11,503,828 shares of the company traded hands, compared to its average volume of 52,970,523. The company’s 50-day moving average is $8.04 and its 200 day moving average is $8.26. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $13.88 billion, a PE ratio of -27.84 and a beta of 0.89. Snap has a 52 week low of $6.90 and a 52 week high of $13.28.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) earnings per share. Snap has set its Q4 2025 guidance at EPS. On average, research analysts expect that Snap will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Derek Andersen sold 62,868 shares of Snap stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.34, for a total value of $524,319.12. Following the completion of the transaction, the chief financial officer owned 3,030,301 shares in the company, valued at approximately $25,272,710.34. The trade was a 2.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 70,882 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.34, for a total transaction of $591,155.88. Following the transaction, the general counsel owned 1,854,982 shares in the company, valued at $15,470,549.88. This trade represents a 3.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,458,628 shares of company stock worth $11,686,273. Insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC grew its position in Snap by 9.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company’s stock valued at $138,000 after acquiring an additional 1,340 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Snap by 5.1% during the third quarter. Mackenzie Financial Corp now owns 27,638 shares of the company’s stock worth $213,000 after purchasing an additional 1,349 shares during the last quarter. Zullo Investment Group Inc. boosted its stake in shares of Snap by 12.8% during the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company’s stock valued at $105,000 after purchasing an additional 1,365 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Snap by 0.3% during the third quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock valued at $3,195,000 after purchasing an additional 1,396 shares during the period. Finally, Orion Porfolio Solutions LLC grew its holdings in shares of Snap by 8.3% in the second quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after purchasing an additional 1,451 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

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.