Snap Inc. (NYSE:SNAP – Get Free Report) has earned a consensus recommendation of “Hold” from the thirty-seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, twenty-three have given a hold recommendation, eleven have assigned a buy recommendation and one has assigned 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 $7.31.
SNAP has been the subject of a number of recent analyst reports. Citizens Jmp reiterated a “market perform” rating on shares of Snap in a report on Tuesday, August 4th. Rosenblatt Securities decreased their target price on Snap from $6.40 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Citigroup decreased their target price on Snap from $6.75 to $6.00 and set a “neutral” rating for the company in a research report on Friday, November 6th. UBS Group reaffirmed a “buy” rating on shares of Snap in a research note on Thursday, November 5th. Finally, DA Davidson increased 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, August 4th.
Get Our Latest Stock Report on Snap
Snap Stock Up 6.8%
Shares of NYSE:SNAP opened at $5.34 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 1.52. The firm has a market cap of $9.03 billion, a P/E ratio of -59.30 and a beta of 1.23. Snap has a 12 month low of $3.81 and a 12 month high of $9.13. The company’s 50-day moving average price is $5.73 and its two-hundred day moving average price is $5.36.
Snap (NYSE:SNAP – Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Snap had a negative net margin of 2.30% and a negative return on equity of 7.10%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. As a group, research analysts forecast that Snap will post -0.02 EPS for the current fiscal year.
Insider Transactions at Snap
In other Snap news, CTO Robert Murphy sold 2,000,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $5.02, for a total value of $10,040,000.00. Following the sale, the chief technology officer directly owned 34,586,451 shares in the company, valued at approximately $173,623,984.02. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ajit Mohan sold 6,797 shares of Snap stock in a transaction on Wednesday, September 16th. The stock was 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 in the company, valued at approximately $28,898,046. This represents a 0.14% 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. In the last three months, insiders have sold 4,445,926 shares of company stock valued at $22,346,930. Corporate insiders own 22.68% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in Snap by 278.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,771,533 shares of the company’s stock valued at $79,766,000 after purchasing an additional 10,868,392 shares during the period. Empyrean Capital Partners LP acquired a new position in shares of Snap during the first quarter worth approximately $25,300,000. Saba Capital Management L.P. lifted its holdings in shares of Snap by 232.5% in the 1st quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock worth $21,748,000 after purchasing an additional 3,306,024 shares in the last quarter. Riposte Capital LLC bought a new position in Snap in the 1st quarter valued at about $5,520,000. Finally, CenterBook Partners LP boosted its stake in Snap by 175.4% during the 3rd quarter. CenterBook Partners LP now owns 1,197,958 shares of the company’s stock valued at $6,469,000 after purchasing an additional 762,979 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.
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.
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