Snap (NYSE:SNAP) Stock Rating Lowered by Guggenheim

Guggenheim lowered shares of Snap (NYSE:SNAP - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat reports.

SNAP has been the subject of several other research reports. Needham & Company LLC reissued a "buy" rating and issued a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. Cantor Fitzgerald upped their price objective on shares of Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on shares of Snap from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Monday, October 14th. Benchmark reaffirmed a "hold" rating on shares of Snap in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.87.

Snap Price Performance

SNAP stock traded down $0.39 during trading on Tuesday, hitting $10.87. The stock had a trading volume of 13,155,379 shares, compared to its average volume of 32,402,410. The company's 50 day moving average price is $11.36 and its two-hundred day moving average price is $10.78. Snap has a 1-year low of $8.29 and a 1-year high of $17.33. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of -25.87 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.04 and a current ratio of 3.95.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results 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 net margin of 13.02% and a negative return on equity of 25.67%. On average, sell-side analysts forecast that Snap will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the transaction, the general counsel now directly owns 480,498 shares in the company, valued at approximately $5,520,922.02. This represents a 3.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 owns 2,791,048 shares of the company's stock, valued at approximately $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 a total of 443,518 shares of company stock worth $4,947,981 in the last 90 days. 22.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Cetera Investment Advisers raised its position in shares of Snap by 23.7% during the 2nd quarter. Cetera Investment Advisers now owns 104,470 shares of the company's stock valued at $1,735,000 after acquiring an additional 20,038 shares in the last quarter. CWM LLC raised its position in shares of Snap by 17.4% during the 3rd quarter. CWM LLC now owns 114,689 shares of the company's stock valued at $1,227,000 after acquiring an additional 16,968 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Snap by 515.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,000 shares of the company's stock valued at $86,000 after acquiring an additional 6,700 shares in the last quarter. Paladin Wealth LLC acquired a new stake in shares of Snap during the 3rd quarter valued at approximately $30,000. Finally, Vontobel Holding Ltd. raised its position in shares of Snap by 17.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company's stock valued at $3,506,000 after acquiring an additional 47,717 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.