Snap (NYSE:SNAP) Earns "Overweight" Rating from Barclays

Snap (NYSE:SNAP - Get Free Report)'s stock had its "overweight" rating reaffirmed by research analysts at Barclays in a note issued to investors on Wednesday, MarketBeat.com reports.

Other equities analysts have also issued research reports about the company. BMO Capital Markets reissued an "outperform" rating and issued a $16.00 price objective (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Citigroup increased their price objective on shares of Snap from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Piper Sandler reiterated a "neutral" rating and set a $13.00 target price (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Cantor Fitzgerald raised their price target on shares of Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Guggenheim reaffirmed a "buy" rating and set a $12.11 price objective on shares of Snap in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $36.87.

Snap Stock Up 2.0 %

Shares of NYSE:SNAP traded up $0.22 on Wednesday, hitting $10.91. The stock had a trading volume of 31,558,889 shares, compared to its average volume of 35,096,188. The company has a quick ratio of 4.04, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm's 50 day moving average price is $11.47 and its 200-day moving average price is $10.86. Snap has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Research analysts forecast that Snap will post -0.26 EPS for the current year.

Insider Transactions at Snap

In related news, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $32,169.28. Following the sale, the chief accounting officer now owns 430,252 shares of the company's stock, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Young sold 112,020 shares of the stock in a transaction that occurred 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 directly owns 2,791,048 shares of the company's stock, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 445,184 shares of company stock valued at $4,968,189 over the last three months. Company insiders own 22.68% of the company's stock.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in Snap during the third quarter worth $29,000. Paladin Wealth LLC acquired a new position in shares of Snap during the 3rd quarter worth about $30,000. Advisors Asset Management Inc. increased its stake in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Snap in the 4th quarter valued at about $32,000. Finally, Brooklyn Investment Group acquired a new stake in Snap in the 3rd quarter valued at about $41,000. Institutional investors own 47.52% of the company's stock.

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.