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

Shares of Snap Inc. (NYSE:SNAP) have received an average rating of “Buy” from the forty brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $78.76.

Several brokerages have recently weighed in on SNAP. Royal Bank of Canada began coverage on Snap in a research report on Thursday, September 30th. They issued an “outperform” rating and a $88.00 target price for the company. KeyCorp increased their price target on Snap from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. Credit Suisse Group increased their price target on Snap from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, July 20th. Truist increased their price target on Snap from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 23rd. Finally, Zacks Investment Research raised Snap from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, July 26th.

Shares of NYSE SNAP opened at $74.95 on Thursday. Snap has a 1-year low of $26.68 and a 1-year high of $83.34. The business has a 50-day moving average of $74.64 and a 200-day moving average of $66.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market capitalization of $118.50 billion, a price-to-earnings ratio of -146.96 and a beta of 1.27.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, July 22nd. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.28. Snap had a negative return on equity of 32.45% and a negative net margin of 22.49%. The company had revenue of $982.11 million during the quarter, compared to the consensus estimate of $846.57 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The company’s revenue was up 116.2% compared to the same quarter last year. Research analysts expect that Snap will post -0.4 EPS for the current fiscal year.

In other Snap news, CTO Robert C. Murphy sold 950,000 shares of the stock in a transaction on Monday, July 26th. The stock was sold at an average price of $75.48, for a total transaction of $71,706,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 13,070 shares of the stock in a transaction on Monday, August 16th. The shares were sold at an average price of $71.75, for a total value of $937,772.50. Following the transaction, the chief financial officer now directly owns 1,187,261 shares of the company’s stock, valued at $85,185,976.75. The disclosure for this sale can be found here. Insiders have sold a total of 4,191,708 shares of company stock worth $316,728,536 over the last quarter.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anfield Capital Management LLC bought a new stake in shares of Snap during the 2nd quarter worth $27,000. Carroll Financial Associates Inc. boosted its stake in shares of Snap by 579.6% during the 3rd quarter. Carroll Financial Associates Inc. now owns 367 shares of the company’s stock worth $27,000 after acquiring an additional 313 shares in the last quarter. Howe & Rusling Inc. bought a new stake in shares of Snap during the 1st quarter worth $29,000. Glassman Wealth Services boosted its stake in shares of Snap by 527.9% during the 2nd quarter. Glassman Wealth Services now owns 427 shares of the company’s stock worth $29,000 after acquiring an additional 359 shares in the last quarter. Finally, Samalin Investment Counsel LLC bought a new stake in shares of Snap during the 2nd quarter worth $31,000. 52.55% of the stock is owned by institutional investors and hedge funds.

About Snap

Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.

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Analyst Recommendations for Snap (NYSE:SNAP)

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