Shares of Snap Inc (NYSE:SNAP) have been given an average rating of “Hold” by the thirty-six brokerages that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, twenty-six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.90.
Several research analysts recently issued reports on SNAP shares. Bank of America lowered Snap from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. Goldman Sachs Group lowered Snap from a “buy” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a research report on Friday, January 4th. Jefferies Financial Group reduced their target price on Snap from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, October 26th. BTIG Research raised Snap from a “sell” rating to a “neutral” rating in a research report on Thursday, December 20th. Finally, Pivotal Research raised Snap from a “hold” rating to a “buy” rating and reduced their target price for the company from $9.00 to $8.00 in a research report on Friday, October 12th.
In other Snap news, CEO Evan Spiegel sold 1,495,200 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $6.43, for a total transaction of $9,614,136.00. Following the transaction, the chief executive officer now owns 80,452,061 shares in the company, valued at $517,306,752.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lara Sweet sold 22,116 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $5.83, for a total value of $128,936.28. Following the transaction, the chief accounting officer now owns 717,431 shares in the company, valued at approximately $4,182,622.73. The disclosure for this sale can be found here. Insiders sold 2,079,877 shares of company stock worth $13,341,617 over the last three months.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc increased its stake in Snap by 57.6% during the third quarter. Vanguard Group Inc now owns 47,237,907 shares of the company’s stock worth $400,578,000 after acquiring an additional 17,260,731 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Snap by 57.6% in the third quarter. Vanguard Group Inc. now owns 47,237,907 shares of the company’s stock valued at $400,578,000 after purchasing an additional 17,260,731 shares during the period. First Trust Advisors LP lifted its holdings in Snap by 87.8% during the 3rd quarter. First Trust Advisors LP now owns 18,981,815 shares of the company’s stock worth $160,966,000 after buying an additional 8,872,583 shares during the last quarter. FMR LLC lifted its holdings in Snap by 18.4% during the 2nd quarter. FMR LLC now owns 24,968,882 shares of the company’s stock worth $326,842,000 after buying an additional 3,886,373 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Snap by 22.1% during the 2nd quarter. BlackRock Inc. now owns 15,367,441 shares of the company’s stock worth $201,159,000 after buying an additional 2,779,756 shares during the last quarter. 23.92% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SNAP traded up $0.06 during mid-day trading on Friday, reaching $5.99. 12,739,309 shares of the company were exchanged, compared to its average volume of 21,929,654. The stock has a market capitalization of $7.98 billion, a P/E ratio of -2.88 and a beta of 0.13. Snap has a 1 year low of $4.82 and a 1 year high of $21.22.
Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, October 25th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The firm had revenue of $297.70 million during the quarter, compared to analysts’ expectations of $283.54 million. Snap had a negative return on equity of 49.42% and a negative net margin of 131.39%. Analysts predict that Snap will post -1.02 EPS for the current year.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.
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