Snap’s (SNAP) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Snap (NYSE:SNAPFree Report) in a report issued on Monday,Benzinga reports. They currently have a $16.00 target price on the stock.

SNAP has been the topic of a number of other research reports. The Goldman Sachs Group boosted their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler restated a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Snap in a report on Wednesday, October 30th. Bank of America raised their target price on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price target on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price objective on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.99.

View Our Latest Research Report on SNAP

Snap Stock Performance

Shares of NYSE SNAP opened at $11.62 on Monday. The stock’s fifty day simple moving average is $11.52 and its 200 day simple moving average is $11.03. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of -20.03 and a beta of 0.98. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 52-week low of $8.29 and a 52-week high of $17.50.

Snap (NYSE:SNAPGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business posted ($0.21) EPS. Snap’s revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts forecast that Snap will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the transaction, the general counsel now directly owns 498,498 shares in the company, valued at $5,403,718.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Eric Young sold 112,020 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 427,184 shares of company stock worth $4,761,369. Company insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. Charles Schwab Investment Management Inc. raised its stake in shares of Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. TB Alternative Assets Ltd. raised its position in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Aigen Investment Management LP bought a new position in Snap during the third quarter worth about $1,345,000. Invenomic Capital Management LP acquired a new stake in Snap during the third quarter valued at approximately $2,349,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of Snap in the 3rd quarter valued at approximately $832,000. 47.52% of the stock is owned by institutional investors.

About Snap

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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.

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