Snap (NYSE:SNAP) Trading 6.3% Higher – Time to Buy?

Shares of Snap Inc. (NYSE:SNAP) rose 6.3% during mid-day trading on Friday . The stock traded as high as $13.28 and last traded at $12.80. Approximately 17,214,273 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 21,841,229 shares. The stock had previously closed at $12.04.

Wall Street Analyst Weigh In

A number of analysts recently commented on SNAP shares. Loop Capital lifted their price target on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Bank of America lifted their target price on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. B. Riley raised their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research note on Friday, January 3rd. Finally, UBS Group increased their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap presently has an average rating of “Hold” and an average price target of $37.10.

Snap Trading Up 3.6 %

The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a 50-day moving average price of $11.59 and a 200-day moving average price of $11.50. The stock has a market cap of $20.91 billion, a P/E ratio of -21.50 and a beta of 0.98.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, equities research analysts expect that Snap Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling at Snap

In related news, SVP Eric Young sold 112,020 shares of Snap stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the transaction, the senior vice president now owns 2,791,048 shares in the company, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock worth $17,560,157 over the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in Snap in the 3rd quarter worth approximately $29,000. Paladin Wealth LLC bought a new position in shares of Snap in the third quarter worth approximately $30,000. Advisors Asset Management Inc. increased its stake in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the period. Hollencrest Capital Management purchased a new stake in Snap during the 2nd quarter valued at $33,000. Finally, Brooklyn Investment Group purchased a new stake in Snap during the 3rd quarter valued at $41,000. Institutional investors own 47.52% of the company’s stock.

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.