Snap Inc. (NYSE:SNAP – Get Free Report) has been assigned an average recommendation of “Hold” from the thirty-six research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, twenty-four have issued a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.6483.
Several equities research analysts recently issued reports on SNAP shares. KeyCorp upgraded shares of Snap from a “sector weight” rating to an “overweight” rating in a report on Monday, April 27th. Freedom Capital downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Tigress Financial assumed coverage on Snap in a research note on Monday, April 27th. They set a “buy” rating for the company. DA Davidson upped their price target on shares of Snap from $5.00 to $5.25 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of Snap from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th.
View Our Latest Research Report on Snap
Snap News Roundup
- Positive Sentiment: Strong earnings reaction: Snap’s shares rose as much as 14.3% following the results. Adjusted EBITDA reportedly surged 505%, and improving ad trends and cash-generation initiatives strengthened the investment case. Snap Trading Up 14.3% Following Strong Earnings
- Positive Sentiment: Several analysts raised targets: Citigroup increased its target to $6.75, while Cantor Fitzgerald and Wells Fargo lifted theirs to $6.00. Although the firms retained neutral or equal-weight ratings, the targets imply additional upside from recent levels. Citigroup Increases Snap Price Target Cantor Fitzgerald Forecasts Strong Price Appreciation Wells Fargo Analyst Forecast
- Neutral Sentiment: Mixed analyst view: Citizens JMP reiterated its Market Perform rating, while high call-option volume suggests increased speculative bullish interest rather than a confirmed fundamental change. Citizens JMP Reiterates Market Perform High Volume of Snap Call Options
- Negative Sentiment: Downside risks remain: Rosenblatt issued a pessimistic forecast, and Zacks downgraded Snap to Strong Sell. The company remains unprofitable, while analysts continue to debate whether its improving results can overcome competitive pressure from larger platforms. Rosenblatt Pessimistic Forecast Zacks Downgrades Snap
Insider Activity at Snap
In other Snap news, insider Ajit Mohan sold 6,923 shares of Snap stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $5.58, for a total transaction of $38,630.34. Following the transaction, the insider owned 5,050,968 shares of the company’s stock, valued at $28,184,401.44. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Douglas Hott sold 114,702 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $5.67, for a total transaction of $650,360.34. Following the completion of the transaction, the chief financial officer owned 2,456,447 shares of the company’s stock, valued at approximately $13,928,054.49. The trade was a 4.46% decrease in their ownership of the stock. 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 2,868,059 shares of company stock worth $15,855,631 in the last 90 days. Insiders own 22.68% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after acquiring an additional 1,581 shares during the period. Arax Advisory Partners boosted its stake in shares of Snap by 220.0% in the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after acquiring an additional 2,275 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Snap during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in shares of Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after purchasing an additional 3,071 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Snap during the 3rd quarter valued at approximately $39,000. Institutional investors own 47.52% of the company’s stock.
Snap Stock Performance
Shares of Snap stock opened at $5.32 on Thursday. The business has a fifty day simple moving average of $4.94 and a two-hundred day simple moving average of $5.31. The firm has a market capitalization of $8.99 billion, a P/E ratio of -29.55 and a beta of 1.03. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap has a 12 month low of $3.81 and a 12 month high of $9.28.
Snap (NYSE:SNAP – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Snap had a negative return on equity of 14.16% and a negative net margin of 4.90%.The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the firm posted ($0.16) EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities analysts forecast that Snap will post -0.07 earnings per share for the current fiscal year.
About Snap
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.
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