Wall Street Zen upgraded shares of Snap (NYSE:SNAP – Free Report) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.
Several other research analysts have also recently issued reports on SNAP. Benchmark reissued a “hold” rating on shares of Snap in a report on Tuesday, August 4th. Susquehanna restated a “neutral” rating on shares of Snap in a research report on Tuesday, August 4th. Truist Financial lowered their price objective on Snap from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Zacks Research upgraded Snap from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Cantor Fitzgerald cut their target price on Snap from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.31.
View Our Latest Research Report on Snap
Snap Stock Performance
Shares of SNAP opened at $4.97 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94. The stock has a market capitalization of $8.41 billion, a P/E ratio of -55.23 and a beta of 1.23. The company’s fifty day moving average is $5.75 and its two-hundred day moving average is $5.40. Snap has a 1 year low of $3.81 and a 1 year high of $9.13.
Snap (NYSE:SNAP – Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $0.03 EPS for the quarter. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Snap had a negative net margin of 2.30% and a negative return on equity of 7.21%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) EPS. On average, sell-side analysts predict that Snap will post -0.03 earnings per share for the current year.
Insider Activity at Snap
In other news, insider Ajit Mohan sold 6,797 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $5.82, for a total transaction of $39,558.54. Following the transaction, the insider directly owned 4,965,300 shares of the company’s stock, valued at $28,898,046. This represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Zachary Briers sold 11,257 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $6.00, for a total transaction of $67,542.00. Following the transaction, the general counsel directly owned 2,345,534 shares in the company, valued at approximately $14,073,204. This trade represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 445,926 shares of company stock valued at $2,326,930 over the last 90 days. Company insiders own 22.68% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in Snap by 68.9% in the third quarter. Signaturefd LLC now owns 5,211 shares of the company’s stock valued at $28,000 after buying an additional 2,126 shares in the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Snap during the 3rd quarter worth approximately $30,000. Fifth Third Bancorp boosted its stake in shares of Snap by 6,678.0% during the 1st quarter. Fifth Third Bancorp now owns 6,778 shares of the company’s stock worth $31,000 after acquiring an additional 6,678 shares in the last quarter. NFSG Corp boosted its stake in shares of Snap by 52.7% during the 1st quarter. NFSG Corp now owns 8,400 shares of the company’s stock worth $39,000 after acquiring an additional 2,900 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Snap by 135.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company’s stock worth $39,000 after acquiring an additional 4,907 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.
Key Snap News
Here are the key news stories impacting Snap this week:
- Positive Sentiment: Snap returned to net profitability and beat adjusted earnings expectations. Its 30 million paid subscribers also point to growing subscription revenue and a potential complement to advertising. Article: Snap Shares Fall More Than 10% as Revenue and User Growth Miss Forecasts Despite Higher Earnings Article: Snap Q3: The Potential Is There – The Conviction Isn’t
- Neutral Sentiment: Traders bought a high volume of Snap call options, suggesting some are positioning for a rebound; options activity is not a reliable indication of future performance. Article: Traders Purchase High Volume of Call Options on Snap
- Negative Sentiment: Third-quarter revenue rose 14% year over year to $1.72 billion but missed estimates, while daily active users also came in below expectations. The shortfalls raised concerns about the pace of Snap’s advertising recovery and overshadowed its earnings improvement. Article: Snap shares fall 13% as revenue and daily users miss estimates
- Negative Sentiment: Several analysts cut price targets, reinforcing a more cautious outlook: Citigroup and UBS lowered targets to $6 and kept neutral ratings; JPMorgan cut its target to $5 and maintained an underweight rating; Cantor Fitzgerald lowered its target to $5 and stayed neutral. Barclays also halved its target to $8, though it retained an overweight rating. Citigroup ratings UBS ratings JPMorgan ratings
- Negative Sentiment: Snap also announced a change in how it measures user engagement, which may complicate comparisons with prior periods as investors assess user trends. Article: Snap tumbles on revenue, user growth miss; announces metric shift
Snap Company Profile
Snap Inc is a technology company best known for Snapchat, a mobile application for visual communication. The company’s products and services help people share photos and videos, message friends, and explore content from creators and publishers.
Snapchat features include Stories, Spotlight for short-form video, Snap Map, and augmented reality tools such as interactive Lenses. Snap also provides advertising solutions to businesses and develops camera-related products and services, including its Spectacles smart glasses and Snap AR platform.
Founded in 2011, Snap is headquartered in Santa Monica, California, and serves users and advertisers in markets around the world.
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