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

Shares of Snap Inc. (NYSE:SNAPGet Free Report) have been assigned an average rating of “Hold” from the thirty-five ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $7.9056.

Several research firms have issued reports on SNAP. The Goldman Sachs Group lowered their price target on shares of Snap from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. BMO Capital Markets raised their price target on shares of Snap from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Morgan Stanley lowered their price target on shares of Snap from $9.50 to $6.50 and set an “equal weight” rating for the company in a report on Sunday, February 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Snap in a report on Monday, April 20th. Finally, HSBC lowered shares of Snap from a “hold” rating to a “hold” rating in a report on Monday, April 27th.

Read Our Latest Stock Analysis on SNAP

Insider Buying and Selling

In other news, CTO Robert C. Murphy sold 343,945 shares of Snap stock in a transaction on Friday, May 29th. The shares were sold at an average price of $5.88, for a total value of $2,022,396.60. Following the completion of the sale, the chief technology officer owned 4,963,581 shares in the company, valued at $29,185,856.28. The trade was a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas Hott sold 114,702 shares of Snap stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $5.67, for a total transaction of $650,360.34. Following the completion of the sale, the chief financial officer owned 2,456,447 shares of the company’s stock, valued at $13,928,054.49. This represents a 4.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,900,631 shares of company stock worth $16,054,989 over the last ninety days.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its stake in shares of Snap by 13.3% in the first quarter. Empowered Funds LLC now owns 40,393 shares of the company’s stock valued at $352,000 after buying an additional 4,754 shares in the last quarter. Prudential Financial Inc. bought a new position in Snap during the second quarter valued at $136,000. Investment Management Corp of Ontario grew its holdings in Snap by 104.0% during the second quarter. Investment Management Corp of Ontario now owns 61,513 shares of the company’s stock valued at $535,000 after purchasing an additional 31,357 shares during the period. Nebula Research & Development LLC bought a new position in Snap during the second quarter valued at $1,675,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Snap by 52.0% during the second quarter. The Manufacturers Life Insurance Company now owns 89,337 shares of the company’s stock valued at $776,000 after purchasing an additional 30,561 shares during the period. Institutional investors own 47.52% of the company’s stock.

Snap Stock Down 0.2%

Snap stock opened at $5.25 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. Snap has a 52-week low of $3.81 and a 52-week high of $10.41. The firm has a 50 day moving average price of $5.61 and a two-hundred day moving average price of $6.15. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -21.88 and a beta of 1.03.

Snap (NYSE:SNAPGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business posted ($0.08) EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts predict that Snap will post -0.06 EPS for the current year.

Snap Company Profile

(Get Free Report)

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

Recommended Stories

Analyst Recommendations for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.