Royal Bank Of Canada reissued their sector perform rating on shares of Snap (NYSE:SNAP – Free Report) in a report published on Thursday morning, Marketbeat Ratings reports. They currently have a $8.00 target price on the stock.
Several other analysts also recently issued reports on SNAP. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a research report on Friday, July 17th. Barclays upped their price objective on shares of Snap from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Evercore set a $8.00 price objective on shares of Snap in a research note on Tuesday, August 4th. Rosenblatt Securities reduced their price objective on shares of Snap from $6.40 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Snap in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.65.
Read Our Latest Report on SNAP
Snap Price Performance
Snap (NYSE:SNAP – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%.The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business earned ($0.16) EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts expect that Snap will post -0.02 EPS for the current fiscal year.
Insider Activity at Snap
In related news, General Counsel Zachary Briers sold 136,504 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.20, for a total transaction of $709,820.80. Following the transaction, the general counsel directly owned 2,424,331 shares in the company, valued at approximately $12,606,521.20. The trade was a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ajit Mohan sold 54,608 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.20, for a total transaction of $283,961.60. Following the completion of the sale, the insider directly owned 4,972,097 shares of the company’s stock, valued at $25,854,904.40. The trade was a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,445,926 shares of company stock valued at $13,426,930 over the last three months. Insiders own 22.68% of the company’s stock.
Institutional Trading of Snap
A number of institutional investors and hedge funds have recently modified their holdings of SNAP. Empyrean Capital Partners LP bought a new position in shares of Snap during the 1st quarter valued at approximately $25,300,000. Assenagon Asset Management S.A. raised its holdings in shares of Snap by 1,191.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,903,141 shares of the company’s stock worth $17,330,000 after purchasing an additional 3,601,002 shares during the period. Saba Capital Management L.P. lifted its stake in Snap by 232.5% in the first quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock valued at $21,748,000 after purchasing an additional 3,306,024 shares during the last quarter. SG Americas Securities LLC lifted its stake in Snap by 44.7% in the first quarter. SG Americas Securities LLC now owns 4,535,783 shares of the company’s stock valued at $20,865,000 after purchasing an additional 1,401,178 shares during the last quarter. Finally, Riposte Capital LLC purchased a new position in Snap in the first quarter valued at approximately $5,520,000. 47.52% of the stock is owned by hedge funds and other institutional investors.
Key Headlines Impacting Snap
Here are the key news stories impacting Snap this week:
- Positive Sentiment: Snap introduced SPECS Intelligence, an anticipatory AI service designed for its $2,000 SPECS AR glasses, iPhones and Macs. The service uses connected apps and personal context to help users manage tasks and goals, positioning Snap in the increasingly competitive consumer AI market. Snap Introduces SPECS Intelligence
- Positive Sentiment: The company expanded SPECS trials and announced enterprise partnerships with NVIDIA, Amazon Web Services and Salesforce, targeting industrial, retail and field-service applications. Enterprise adoption could broaden Snap’s revenue base beyond consumer advertising if the trials convert into commercial deployments. Snap Enterprise AI Partnerships
- Positive Sentiment: Snap emphasized privacy controls for SPECS Intelligence and plans to begin consumer trials on October 1. The privacy-first positioning and new charging case with cellular connectivity may help support adoption. SPECS Experiences and Partnerships
- Neutral Sentiment: Royal Bank of Canada reaffirmed a “Sector Perform” rating but set an $8 price target, implying substantial potential upside from recent trading levels while signaling a lack of strong near-term conviction.
- Neutral Sentiment: Unusual options activity showed call purchases above typical levels, indicating increased speculative interest but not necessarily a fundamental improvement in Snap’s outlook.
- Negative Sentiment: Brokerages maintain a consensus “Hold” rating, underscoring investor caution as Snap continues to report losses and must prove that SPECS can scale profitably. Recent weakness while the broader market advanced also suggests the AI announcements have not yet overcome concerns about execution and monetization. Snap Consensus Hold Rating
About Snap
Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, text messages and augmented reality experiences, including Lenses and filters. The platform also offers Stories, Spotlight for short-form video, Snap Map and other tools for discovering and sharing content.
Snap generates most of its business through digital advertising, including advertising displayed across Snapchat’s content and communication features.
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