Snap (NYSE:SNAP - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Benchmark in a note issued to investors on Friday, Benzinga reports.
Several other brokerages also recently commented on SNAP. JPMorgan Chase & Co. dropped their target price on shares of Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Friday, August 2nd. HSBC cut Snap from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Stifel Nicolaus lowered their target price on Snap from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Truist Financial cut their price target on Snap from $16.00 to $13.00 and set a "hold" rating for the company in a report on Friday, August 2nd. Finally, Wells Fargo & Company reduced their price objective on Snap from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $13.89.
View Our Latest Stock Analysis on SNAP
Snap Stock Up 1.8 %
Shares of SNAP traded up $0.18 during trading hours on Friday, hitting $10.45. 18,580,819 shares of the company were exchanged, compared to its average volume of 26,830,061. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The company has a market cap of $17.15 billion, a PE ratio of -12.90 and a beta of 1.01. The firm's 50 day moving average is $9.94 and its 200-day moving average is $12.67. Snap has a 52 week low of $8.29 and a 52 week high of $17.90.
Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.25 billion. On average, equities research analysts forecast that Snap will post -0.47 EPS for the current fiscal year.
Insider Activity at Snap
In other Snap news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the sale, the general counsel now directly owns 463,908 shares of the company's stock, valued at approximately $6,160,698.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares of the company's stock, valued at approximately $6,160,698.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total value of $1,327,500.00. Following the sale, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,508,617 shares of company stock valued at $13,422,930 in the last ninety days. Insiders own 22.68% of the company's stock.
Hedge Funds Weigh In On Snap
A number of institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of Snap during the third quarter valued at $29,000. Paladin Wealth LLC acquired a new position in Snap during the 3rd quarter valued at about $30,000. Hollencrest Capital Management bought a new position in shares of Snap in the 2nd quarter valued at about $33,000. Blue Trust Inc. grew its position in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after buying an additional 1,682 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Snap during the second quarter worth approximately $40,000. 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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