Snap Inc. (NYSE:SNAP) Given Average Rating of “Hold” by Brokerages

Shares of Snap Inc. (NYSE:SNAP) have been given an average recommendation of “Hold” by the twenty brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $13.86.

Several equities research analysts have commented on SNAP shares. Truist Financial upped their price target on Snap from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Stifel Nicolaus dropped their price target on Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. BMO Capital Markets dropped their price target on Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada lowered their target price on Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company lowered their target price on Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th.

Insider Buying and Selling

In related news, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the transaction, the chief financial officer now directly owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Derek Andersen sold 96,953 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 in the last three months. 22.68% of the stock is currently owned by insiders.

Institutional Trading of Snap

A number of institutional investors have recently bought and sold shares of SNAP. NBC Securities Inc. lifted its position in shares of Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Snap by 75.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares during the last quarter. Allworth Financial LP lifted its position in shares of Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Snap in the fourth quarter worth about $51,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Snap in the fourth quarter worth about $73,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 2.9 %

Snap stock opened at $11.40 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The stock’s fifty day moving average is $11.20 and its two-hundred day moving average is $12.80. The firm has a market capitalization of $18.82 billion, a price-to-earnings ratio of -13.73 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Analysts predict that Snap will post -0.58 EPS for the current fiscal year.

Snap Company Profile

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.