Snap Inc. (NYSE:SNAP) Receives Average Recommendation of “Hold” from Analysts

Shares of Snap Inc. (NYSE:SNAP) have received a consensus recommendation of “Hold” from the thirty-two research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twenty-four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $13.77.

A number of research firms have recently weighed in on SNAP. Piper Sandler reissued a “neutral” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Snap in a research report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Snap in a research report on Tuesday, August 6th. HSBC cut Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $8.00 price objective on shares of Snap in a research report on Monday, October 7th. Finally, Roth Mkm reissued a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th.

Snap Stock Down 2.8 %

Shares of NYSE SNAP opened at $10.46 on Friday. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $17.17 billion, a PE ratio of -12.91 and a beta of 1.01. The stock’s fifty day simple moving average is $9.80 and its two-hundred day simple moving average is $12.71. Snap has a 12-month low of $8.29 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. As a group, analysts expect that Snap will post -0.47 EPS for the current fiscal year.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the transaction, the general counsel now owns 463,908 shares in the company, valued at $6,160,698.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the transaction, the general counsel now owns 463,908 shares in the company, valued at $6,160,698.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,510,352 shares of company stock worth $13,446,353 in the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Snap in the third quarter valued at approximately $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap in the third quarter valued at approximately $30,000. Hollencrest Capital Management purchased a new stake in shares of Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. grew its position in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Snap in the second quarter valued at approximately $40,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.