Shares of Snap Inc. (NYSE:SNAP – Get Free Report) have received an average recommendation of “Hold” from the thirty-six research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.68.
A number of analysts recently weighed in on SNAP shares. Guggenheim reissued a “neutral” rating on shares of Snap in a research report on Wednesday, September 2nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Snap in a research note on Tuesday, August 4th. Freedom Capital upgraded Snap from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Mizuho boosted their price objective on Snap from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Snap in a research report on Tuesday, August 4th.
Read Our Latest Report on SNAP
Snap Stock Down 5.2%
NYSE SNAP opened at $6.11 on Tuesday. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.75. The company has a fifty day moving average of $5.59 and a two-hundred day moving average of $5.34. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of -33.92 and a beta of 1.07. Snap has a 52 week low of $3.81 and a 52 week high of $9.13.
Snap (NYSE:SNAP – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business earned ($0.16) EPS. The business’s revenue was up 18.9% on a year-over-year basis. On average, analysts predict that Snap will post -0.02 earnings per share for the current year.
Insider Activity
In related news, insider Ajit Mohan sold 6,797 shares of Snap stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $5.82, for a total transaction of $39,558.54. Following the completion of the sale, the insider owned 4,965,300 shares in the company, valued at $28,898,046. This trade represents a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, 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 131,884 shares of Snap stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.20, for a total transaction of $685,796.80. Following the sale, the chief financial officer owned 2,324,563 shares of the company’s stock, valued at $12,087,727.60. The trade was a 5.37% decrease in their position. 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. In the last three months, insiders sold 2,445,926 shares of company stock valued at $13,426,930. Insiders own 22.68% of the company’s stock.
Institutional Trading of Snap
Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its holdings in 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 purchasing an additional 6,678 shares during the period. NFSG Corp grew its position 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 buying an additional 2,900 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Snap by 135.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company’s stock worth $39,000 after buying an additional 4,907 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Snap during the second quarter valued at $47,000. Finally, Waverly Advisors LLC purchased a new position in shares of Snap during the second quarter valued at $47,000. Institutional investors own 47.52% of the company’s stock.
About Snap
Snap Inc is a technology and social media company best known for Snapchat, a visual communication platform that enables users to share photos, videos, messages and other content. Snapchat includes features such as Stories, Spotlight for short-form video, Snap Map, augmented reality (AR) Lenses and Bitmoji digital avatars.
The company primarily generates revenue through digital advertising, including advertising formats integrated into Snapchat’s content and communication experiences. Snap also offers subscription services through Snapchat+, develops AR-related products and services, and has introduced hardware products such as Spectacles, smart glasses designed to support augmented reality experiences.
Founded in 2011, the company was initially known as Snapchat Inc and adopted the name Snap Inc in 2016.
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