Snap’s (SNAP) Neutral Rating Reiterated at Roth Mkm

Roth Mkm reiterated their neutral rating on shares of Snap (NYSE:SNAP) in a report issued on Tuesday, Benzinga reports. Roth Mkm currently has a $14.00 price objective on the stock.

SNAP has been the topic of a number of other reports. Royal Bank of Canada lowered their price objective on Snap from $17.00 to $13.00 and set a sector perform rating on the stock in a research note on Wednesday, February 7th. Morgan Stanley lowered their price objective on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and upped their price target for the company from $10.00 to $19.00 in a research report on Friday, January 26th. Piper Sandler upped their price target on Snap from $12.00 to $17.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. Finally, Rosenblatt Securities upped their price target on Snap from $11.00 to $12.00 and gave the company a neutral rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $13.86.

Snap Stock Performance

NYSE SNAP opened at $11.40 on Tuesday. The company has a fifty day simple moving average of $11.20 and a 200 day simple moving average of $12.80. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39.

Snap (NYSE:SNAP) last posted its quarterly earnings results 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. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. As a group, sell-side analysts expect that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the transaction, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the company’s stock in a transaction that occurred 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 owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 470,482 shares of company stock valued at $5,284,091. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after buying an additional 1,352,655 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Snap by 565.4% during the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after purchasing an additional 223,432 shares during the period. Allworth Financial LP boosted its stake in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of Snap during the third quarter valued at approximately $423,000. Finally, Korea Investment CORP boosted its stake in shares of Snap by 191.7% during the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after purchasing an additional 273,156 shares during the period. Hedge funds and other 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.