Snap Inc. (NYSE:SNAP) Receives Average Recommendation of "Hold" from Analysts

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have earned an average rating of "Hold" from the thirty-two research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $37.10.

A number of research firms have issued reports on SNAP. The Goldman Sachs Group upped their price target on Snap from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Wells Fargo & Company lowered their price target on Snap from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, October 4th. Truist Financial boosted their price objective on Snap from $13.00 to $14.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th.

Snap Trading Down 0.8 %

Shares of SNAP stock traded down $0.09 during mid-day trading on Wednesday, hitting $10.77. 14,588,334 shares of the company's stock were exchanged, compared to its average volume of 27,707,576. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of -18.57 and a beta of 0.97. 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 fifty-two week low of $8.29 and a fifty-two week high of $17.75. The stock has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $11.68.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company posted ($0.21) EPS. The company's quarterly revenue was up 15.4% compared to the same quarter last year. Equities analysts expect that Snap will post -0.4 EPS for the current fiscal year.

Insider Activity

In other Snap news, Director Joanna Coles sold 6,434 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now directly owns 54,761 shares of the company's stock, valued at approximately $657,132. This trade represents a 10.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 56,961 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $651,633.84. Following the completion of the sale, the general counsel now directly owns 1,127,655 shares in the company, valued at $12,900,373.20. This represents a 4.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,433,618 shares of company stock valued at $17,365,037. Company insiders own 22.68% of the company's stock.

Hedge Funds Weigh In On Snap

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock worth $66,462,000 after purchasing an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. increased its stake in Snap by 105.6% in the 3rd 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 purchased a new position in Snap in the 3rd quarter worth about $1,345,000. Invenomic Capital Management LP purchased a new stake in Snap during the third quarter valued at about $2,349,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Snap in the third quarter worth about $832,000. Institutional investors and hedge funds 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.